Wintrust Financial (NASDAQ:WTFC) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Wintrust Financial (NASDAQ:WTFC) issued its earnings results on Monday. The bank reported $2.47 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.03), Briefing.com reports. The firm had revenue of $615.73 million during the quarter, compared to analyst estimates of $623.45 million. Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 EPS.

Wintrust Financial Stock Performance

WTFC stock opened at $114.76 on Wednesday. Wintrust Financial has a 1-year low of $71.86 and a 1-year high of $117.77. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a market cap of $7.09 billion, a PE ratio of 11.87 and a beta of 1.16. The business’s 50-day moving average price is $106.49 and its two-hundred day moving average price is $101.97.

Wintrust Financial Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Wintrust Financial from $113.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Stephens reaffirmed an “overweight” rating and issued a $115.00 price target on shares of Wintrust Financial in a report on Thursday, July 18th. Keefe, Bruyette & Woods lowered shares of Wintrust Financial from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $110.00 to $115.00 in a report on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Wintrust Financial in a research note on Tuesday. Finally, Truist Financial increased their price target on shares of Wintrust Financial from $118.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.23.

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.