Wintrust Financial (NASDAQ:WTFC) Posts Earnings Results, Beats Estimates By $0.15 EPS

Key Points

• Wintrust Financial reported quarterly earnings of $3.30 per share, beating Wall Street’s estimate of $3.15 by $0.15. The bank also posted a 13.15% return on equity and a 20.11% net margin.
• The stock traded lower on the day despite the earnings beat, ending at $163.66 after a decline of $0.64. Shares saw heavier-than-normal volume, and the company’s market cap stood at about $11.04 billion.
• Analyst sentiment remains positive, with 10 Buy ratings and 3 Hold ratings, giving WTFC a consensus “Moderate Buy” rating and an average price target of $174.92. Several firms recently raised or reiterated bullish targets, including RBC, Piper Sandler, and Raymond James.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) released its quarterly earnings data on Monday. The bank reported $3.30 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.15, Zacks reports. Wintrust Financial had a return on equity of 13.15% and a net margin of 20.11%.

Wintrust Financial Price Performance

Wintrust Financial stock traded down $0.64 during midday trading on Monday, reaching $163.66. 863,276 shares of the stock traded hands, compared to its average volume of 499,744. The stock has a market cap of $11.04 billion, a P/E ratio of 13.72 and a beta of 0.84. The stock's fifty day moving average is $155.22 and its 200-day moving average is $148.90. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. Wintrust Financial has a 12 month low of $119.61 and a 12 month high of $167.21.

Wall Street Analysts Forecast Growth

WTFC has been the topic of a number of research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Wintrust Financial in a report on Monday, June 29th. Royal Bank Of Canada increased their price objective on shares of Wintrust Financial from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Piper Sandler reiterated an "overweight" rating and set a $188.00 price objective (up from $184.00) on shares of Wintrust Financial in a research report on Wednesday, April 22nd. Stephens initiated coverage on shares of Wintrust Financial in a report on Friday, March 27th. They issued an "equal weight" rating and a $160.00 target price on the stock. Finally, Raymond James Financial started coverage on shares of Wintrust Financial in a research report on Tuesday, July 7th. They set an "outperform" rating and a $180.00 target price for the company. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Wintrust Financial has an average rating of "Moderate Buy" and a consensus price target of $174.92.

Insiders Place Their Bets

In other Wintrust Financial news, COO David A. Dykstra sold 9,579 shares of Wintrust Financial stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $148.82, for a total value of $1,425,546.78. Following the sale, the chief operating officer owned 179,810 shares of the company's stock, valued at $26,759,324.20. The trade was a 5.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Suzet M. Mckinney sold 500 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $148.96, for a total value of $74,480.00. Following the sale, the director directly owned 3,303 shares in the company, valued at $492,014.88. This trade represents a 13.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,099 shares of company stock valued at $1,954,386 in the last quarter. 1.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wintrust Financial

Hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. bought a new position in Wintrust Financial during the first quarter valued at $27,000. Strive Financial Group LLC bought a new stake in shares of Wintrust Financial in the 4th quarter worth about $39,000. State of Wyoming purchased a new stake in shares of Wintrust Financial during the 2nd quarter valued at about $41,000. Los Angeles Capital Management LLC bought a new position in shares of Wintrust Financial in the 4th quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Wintrust Financial by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 400 shares of the bank's stock valued at $50,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company's stock.

About Wintrust Financial

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm's core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.

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