Wintrust Financial (NASDAQ:WTFC) Posts Quarterly Earnings Results

Wintrust Financial (NASDAQ:WTFC) posted its quarterly earnings results on Monday. The bank reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.06, FiscalAI reports. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC traded down $1.64 during midday trading on Monday, hitting $142.44. The stock had a trading volume of 701,355 shares, compared to its average volume of 513,195. The company has a market capitalization of $9.61 billion, a PE ratio of 11.44 and a beta of 0.89. The stock has a 50 day simple moving average of $149.90 and a 200-day simple moving average of $152.23. Wintrust Financial has a 1 year low of $122.00 and a 1 year high of $167.21. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. Wintrust Financial’s dividend payout ratio is presently 17.67%.

Insider Activity

In related news, COO David Dykstra sold 13,515 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $162.77, for a total value of $2,199,836.55. Following the transaction, the chief operating officer owned 166,449 shares of the company’s stock, valued at $27,092,903.73. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. DA Davidson raised their price objective on Wintrust Financial from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Truist Financial increased their target price on Wintrust Financial from $170.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wintrust Financial in a report on Friday, September 25th. Capital One Financial set a $170.00 price target on Wintrust Financial in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company initiated coverage on Wintrust Financial in a research report on Thursday, September 24th. They set an “equal weight” rating and a $160.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $176.20.

About Wintrust Financial

Wintrust Financial Corporation (NASDAQ: WTFC) is a financial holding company headquartered in Rosemont, Illinois. Through its network of community banking subsidiaries, the company provides banking and financial services to individuals, families, businesses and institutions.

Its offerings include checking and savings accounts, commercial and consumer lending, residential mortgages, treasury management, cash management and other deposit services. Wintrust also provides wealth management, investment services, insurance-related products and specialized finance solutions, including equipment finance and premium finance.

Founded in 1991, Wintrust has built its business through a community banking model that combines local decision-making and relationship-based service with the resources of a larger financial organization.