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

Wintrust Financial Co. (NASDAQ:WTFC) – Research analysts at Wedbush reduced their Q2 2024 earnings per share estimates for shares of Wintrust Financial in a report issued on Monday, June 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $2.37 per share for the quarter, down from their prior forecast of $2.47. Wedbush currently has a “Outperform” rating and a $116.00 target price 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.

A number of other analysts have also recently issued reports on the company. Royal Bank of Canada increased their target price on Wintrust Financial from $109.00 to $116.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Truist Financial decreased 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 note on Monday, April 22nd. Barclays decreased their price target on shares of Wintrust Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Citigroup decreased their price target on shares of Wintrust Financial from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Jefferies Financial Group raised their price target on shares of Wintrust Financial from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating, nine have issued 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 target price of $111.38.

Wintrust Financial Price Performance

NASDAQ WTFC opened at $95.40 on Thursday. The business has a 50 day simple moving average of $97.62 and a 200 day simple moving average of $96.79. Wintrust Financial has a 52-week low of $68.86 and a 52-week high of $105.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.98. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 9.87 and a beta of 1.19.

Wintrust Financial (NASDAQ:WTFC) last posted 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. Wintrust Financial had a return on equity of 13.09% and a net margin of 17.86%. The business had revenue of $604.77 million during the quarter, compared to analysts’ expectations of $577.80 million. During the same period in the prior year, the business earned $2.80 EPS. Wintrust Financial’s revenue for the quarter was up 6.9% compared to the same quarter last year.

Wintrust Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.89%. The ex-dividend date was Wednesday, May 8th. Wintrust Financial’s dividend payout ratio is 18.61%.

Institutional Investors Weigh In On Wintrust Financial

Several hedge funds have recently added to or reduced their stakes in the business. Shaker Investments LLC OH lifted its holdings in Wintrust Financial by 0.3% during the 1st quarter. Shaker Investments LLC OH now owns 34,256 shares of the bank’s stock valued at $3,576,000 after purchasing an additional 112 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Wintrust Financial by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 26,713 shares of the bank’s stock valued at $2,017,000 after purchasing an additional 140 shares during the last quarter. Oliver Luxxe Assets LLC lifted its holdings in shares of Wintrust Financial by 1.7% during the first quarter. Oliver Luxxe Assets LLC now owns 9,290 shares of the bank’s stock worth $970,000 after buying an additional 157 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Wintrust Financial by 120.8% during the fourth quarter. Quent Capital LLC now owns 351 shares of the bank’s stock worth $33,000 after buying an additional 192 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Wintrust Financial by 0.3% during the first quarter. Retirement Systems of Alabama now owns 76,896 shares of the bank’s stock worth $8,027,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wintrust Financial Company Profile

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.