Wintrust Financial (NASDAQ:WTFC) Shares Gap Down on Disappointing Earnings

Wintrust Financial Co. (NASDAQ:WTFC)’s stock price gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $112.29, but opened at $106.18. Wintrust Financial shares last traded at $111.97, with a volume of 65,776 shares traded.

The bank reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.03). Wintrust Financial had a return on equity of 12.71% and a net margin of 17.02%. The firm had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. During the same period in the prior year, the company posted $2.53 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year.

Wintrust Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, August 8th. Wintrust Financial’s dividend payout ratio (DPR) is currently 18.61%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WTFC. Wedbush restated an “outperform” rating and issued a $130.00 price target on shares of Wintrust Financial in a research report on Tuesday. Keefe, Bruyette & Woods lowered Wintrust Financial from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $110.00 to $115.00 in a research report on Friday, July 19th. DA Davidson raised their price target on Wintrust Financial from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada raised their price target on Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Finally, Truist Financial raised their price target on Wintrust Financial from $118.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wintrust Financial currently has an average rating of “Moderate Buy” and an average price target of $118.23.

Institutional Trading of Wintrust Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Wintrust Financial in the 3rd quarter valued at about $35,000. DHJJ Financial Advisors Ltd. increased its position in shares of Wintrust Financial by 111.7% in the third quarter. DHJJ Financial Advisors Ltd. now owns 1,033 shares of the bank’s stock valued at $112,000 after acquiring an additional 545 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Wintrust Financial by 7.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank’s stock valued at $22,063,000 after acquiring an additional 14,699 shares during the last quarter. Vest Financial LLC increased its position in shares of Wintrust Financial by 16.4% in the third quarter. Vest Financial LLC now owns 13,725 shares of the bank’s stock valued at $1,490,000 after acquiring an additional 1,931 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Wintrust Financial by 5.2% in the third quarter. Raymond James & Associates now owns 218,733 shares of the bank’s stock valued at $23,739,000 after acquiring an additional 10,789 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wintrust Financial Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day moving average of $106.49 and a 200-day moving average of $101.97. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 11.87 and a beta of 1.16.

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.