Wintrust Financial Co. (NASDAQ:WTFC) Forecasted to Post Q2 2024 Earnings of $2.37 Per Share

Wintrust Financial Co. (NASDAQ:WTFC) – Wedbush dropped their Q2 2024 earnings estimates for Wintrust Financial in a research note issued to investors on Monday, June 24th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings of $2.37 per share for the quarter, down from their prior estimate of $2.47. Wedbush has a “Outperform” rating and a $116.00 price objective on the stock. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.13 per share. Wedbush also issued estimates for Wintrust Financial’s Q4 2024 earnings at $2.45 EPS.

Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.47. The company had revenue of $604.77 million during the quarter, compared to analysts’ expectations of $577.80 million. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 earnings per share.

A number of other equities analysts have also weighed in on WTFC. Royal Bank of Canada boosted their price objective on shares of Wintrust Financial from $109.00 to $116.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. StockNews.com raised shares of Wintrust Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Stephens reaffirmed an “overweight” rating and set a $110.00 price target on shares of Wintrust Financial in a research report on Tuesday, April 16th. Hovde Group reaffirmed a “market perform” rating and set a $100.00 price target on shares of Wintrust Financial in a research report on Friday, June 21st. Finally, Truist Financial dropped their price target on shares of Wintrust Financial from $117.00 to $112.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.38.

Wintrust Financial Stock Performance

NASDAQ:WTFC opened at $95.40 on Thursday. The firm has a 50 day simple moving average of $97.62 and a 200-day simple moving average of $96.79. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a market cap of $5.89 billion, a PE ratio of 9.87 and a beta of 1.19. Wintrust Financial has a 1-year low of $68.86 and a 1-year high of $105.29.

Wintrust Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 1.89%. Wintrust Financial’s dividend payout ratio (DPR) is presently 18.61%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Wintrust Financial by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock valued at $673,603,000 after acquiring an additional 244,168 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Wintrust Financial by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,866,032 shares of the bank’s stock valued at $265,829,000 after acquiring an additional 80,526 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Wintrust Financial by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,843,679 shares of the bank’s stock valued at $171,001,000 after acquiring an additional 79,672 shares during the last quarter. Capital International Investors boosted its stake in Wintrust Financial by 4.6% during the 1st quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock valued at $171,000,000 after acquiring an additional 72,082 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Wintrust Financial by 54.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,330,263 shares of the bank’s stock valued at $138,866,000 after acquiring an additional 469,640 shares during the last quarter. 93.48% of the stock is currently owned by institutional investors.

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.