Wintrust Financial (NASDAQ:WTFC) Issues Earnings Results, Misses Estimates 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 business had revenue of $615.73 million for the quarter, compared to analysts’ expectations of $623.45 million. Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.53 earnings per share.

Wintrust Financial Stock Performance

WTFC traded down $0.43 during midday trading on Wednesday, reaching $114.33. The company had a trading volume of 517,754 shares, compared to its average volume of 384,474. The business has a 50-day moving average of $106.84 and a two-hundred day moving average of $102.07. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.85. Wintrust Financial has a 1 year low of $71.86 and a 1 year high of $117.77. The company has a market cap of $7.06 billion, a P/E ratio of 11.77 and a beta of 1.16.

Wintrust Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler upped their price target on Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup raised their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Raymond James increased their price objective on shares of Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Finally, Stephens restated an “overweight” rating and issued a $115.00 target price on shares of Wintrust Financial in a report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.00.

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.