Wintrust Financial (NASDAQ:WTFC) Issues Quarterly Earnings Results, Beats Expectations By $0.47 EPS

Key Points

• Wintrust Financial reported earnings of $3.06 per share, beating expectations by $0.47 compared to the consensus estimate of $2.59.
• The company declared a quarterly dividend of $0.50 per share, representing a yield of 1.6% and a dividend payout ratio of 18.92%.
• Wintrust Financial's stock has received positive ratings with several analysts raising their target prices, with one analyst setting a target of $158.00 and giving an "outperform" rating.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) released its earnings results on Monday. The bank reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.47, Zacks reports. Wintrust Financial had a net margin of 18.06% and a return on equity of 12.08%.

Wintrust Financial Trading Up 3.1%

NASDAQ:WTFC traded up $3.81 during midday trading on Monday, hitting $126.55. 617,751 shares of the company traded hands, compared to its average volume of 441,576. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm's fifty day moving average is $132.41 and its 200-day moving average is $123.92. Wintrust Financial has a 12-month low of $89.10 and a 12-month high of $142.04. The firm has a market capitalization of $8.47 billion, a P/E ratio of 11.97 and a beta of 0.83.

Wintrust Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, August 7th. Wintrust Financial's dividend payout ratio is presently 18.92%.

Insider Buying and Selling at Wintrust Financial

In other news, COO David A. Dykstra sold 14,942 shares of Wintrust Financial stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $131.53, for a total transaction of $1,965,321.26. Following the completion of the sale, the chief operating officer directly owned 182,208 shares in the company, valued at approximately $23,965,818.24. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Wehmer bought 3,919 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were acquired at an average price of $26.35 per share, with a total value of $103,265.65. Following the completion of the transaction, the insider owned 3,919 shares of the company's stock, valued at approximately $103,265.65. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 1.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wintrust Financial

Several institutional investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Wintrust Financial by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,430 shares of the bank's stock valued at $20,179,000 after buying an additional 12,103 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in shares of Wintrust Financial during the second quarter valued at $15,002,000. California Public Employees Retirement System increased its stake in shares of Wintrust Financial by 0.5% during the second quarter. California Public Employees Retirement System now owns 119,309 shares of the bank's stock valued at $14,792,000 after buying an additional 578 shares during the period. Curi Capital LLC increased its stake in shares of Wintrust Financial by 33.5% during the second quarter. Curi Capital LLC now owns 97,883 shares of the bank's stock valued at $12,136,000 after buying an additional 24,571 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Wintrust Financial by 2.3% during the second quarter. Ameriprise Financial Inc. now owns 92,095 shares of the bank's stock valued at $11,418,000 after buying an additional 2,035 shares during the period. Hedge funds and other institutional investors own 93.48% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WTFC shares. Royal Bank Of Canada increased their target price on shares of Wintrust Financial from $137.00 to $158.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Cowen assumed coverage on Wintrust Financial in a research note on Wednesday, September 24th. They issued a "buy" rating for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Wintrust Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Wintrust Financial from $130.00 to $138.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $157.00 target price (up from $155.00) on shares of Wintrust Financial in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Wintrust Financial currently has an average rating of "Moderate Buy" and a consensus price target of $149.57.

About Wintrust Financial

Wintrust Financial Corporation operates as a financial holding company. It operates in three segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), online and mobile banking, and other services.

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