Wintrust Financial (NASDAQ:WTFC) Releases Quarterly Earnings Results

Wintrust Financial (NASDAQ:WTFC) released its quarterly earnings results on Wednesday. The bank reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.10), Briefing.com reports. The firm had revenue of $591.76 million during the quarter, compared to the consensus estimate of $587.33 million. Wintrust Financial had a net margin of 17.02% and a return on equity of 12.88%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.38 earnings per share.

Wintrust Financial Stock Down 5.0 %

NASDAQ:WTFC opened at $106.26 on Friday. The firm has a market capitalization of $6.56 billion, a P/E ratio of 10.99 and a beta of 1.18. The company’s fifty day moving average price is $98.40 and its 200-day moving average price is $97.71. Wintrust Financial has a 1-year low of $71.86 and a 1-year high of $113.68. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.97.

Wintrust Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Wednesday, May 8th. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.61%.

Wall Street Analysts Forecast Growth

WTFC has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada raised their price objective on Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Stephens reaffirmed an “overweight” rating and set a $115.00 target price on shares of Wintrust Financial in a research report on Thursday. Hovde Group reiterated a “market perform” rating and issued a $100.00 price target on shares of Wintrust Financial in a research note on Friday, June 21st. Finally, Keefe, Bruyette & Woods lowered Wintrust Financial from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $110.00 to $115.00 in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.77.

Wintrust Financial Company Profile

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.