Wintrust Financial (NASDAQ:WTFC) Shares Gap Down Following Weak Earnings

Wintrust Financial Co. (NASDAQ:WTFC) shares gapped down prior to trading 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 changing hands.

The bank reported $2.47 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 company had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. During the same quarter in the previous year, the firm posted $2.53 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WTFC. Jefferies Financial Group decreased their target price on shares of Wintrust Financial from $118.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Truist Financial boosted their target price on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday. Stephens restated an “overweight” rating and set a $115.00 target price on shares of Wintrust Financial in a research report on Thursday, July 18th. Raymond James boosted their target price 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, Keefe, Bruyette & Woods downgraded shares of Wintrust Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $110.00 to $115.00 in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wintrust Financial has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WTFC. PNC Financial Services Group Inc. raised its position in shares of Wintrust Financial by 84.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,745 shares of the bank’s stock worth $533,000 after purchasing an additional 2,623 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Wintrust Financial by 17.8% during the 1st quarter. Park Avenue Securities LLC now owns 6,620 shares of the bank’s stock worth $691,000 after purchasing an additional 998 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Wintrust Financial by 8.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,234 shares of the bank’s stock worth $651,000 after purchasing an additional 498 shares during the last quarter. Oliver Luxxe Assets LLC raised its position in shares of Wintrust Financial by 1.7% during the 1st quarter. Oliver Luxxe Assets LLC now owns 9,290 shares of the bank’s stock worth $970,000 after purchasing an additional 157 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Wintrust Financial by 157.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,416 shares of the bank’s stock worth $19,878,000 after purchasing an additional 116,503 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

Wintrust Financial Stock Performance

The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 11.77 and a beta of 1.16. 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’s 50-day moving average is $106.84 and its two-hundred day moving average is $102.07.

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.