Wintrust Financial (NASDAQ:WTFC) Releases Quarterly Earnings Results

Wintrust Financial (NASDAQ:WTFC) issued its quarterly earnings results on Thursday. The bank reported $3.06 earnings per share for the quarter, FiscalAI reports. Wintrust Financial had a net margin of 18.85% and a return on equity of 13.05%. The business had revenue of $1.26 billion during the quarter.

Wintrust Financial Stock Performance

WTFC stock opened at $128.68 on Friday. Wintrust Financial has a 1-year low of $89.10 and a 1-year high of $142.04. 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 has a market cap of $8.62 billion, a PE ratio of 11.83 and a beta of 0.91. The business’s 50-day moving average price is $131.81 and its two-hundred day moving average price is $126.53.

Wintrust Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, November 6th. This represents a $2.00 annualized dividend and a yield of 1.6%. Wintrust Financial’s payout ratio is currently 18.38%.

Institutional Trading of Wintrust Financial

Hedge funds have recently bought and sold shares of the stock. Earnest Partners LLC lifted its stake in Wintrust Financial by 7.4% in the first quarter. Earnest Partners LLC now owns 1,410,773 shares of the bank’s stock valued at $158,656,000 after buying an additional 97,587 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Wintrust Financial by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,300,234 shares of the bank’s stock worth $172,204,000 after acquiring an additional 75,155 shares during the period. Invesco Ltd. raised its holdings in shares of Wintrust Financial by 9.0% during the second quarter. Invesco Ltd. now owns 1,229,858 shares of the bank’s stock worth $152,478,000 after acquiring an additional 101,134 shares during the period. Jennison Associates LLC lifted its position in Wintrust Financial by 8.9% in the 3rd quarter. Jennison Associates LLC now owns 1,020,660 shares of the bank’s stock valued at $135,176,000 after acquiring an additional 83,826 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Wintrust Financial by 20.2% in the 1st quarter. Northern Trust Corp now owns 852,583 shares of the bank’s stock valued at $95,881,000 after acquiring an additional 143,401 shares in the last quarter. 93.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WTFC shares. Jefferies Financial Group lowered their target price on Wintrust Financial from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, October 21st. Royal Bank Of Canada raised their price target on Wintrust Financial from $137.00 to $158.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. DA Davidson reissued a “buy” rating and set a $158.00 price objective on shares of Wintrust Financial in a report on Tuesday, October 21st. Truist Financial upped their target price on shares of Wintrust Financial from $151.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, Cowen reiterated a “buy” rating on shares of Wintrust Financial in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $152.92.

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.