Wintrust Financial Co. (NASDAQ:WTFC) Forecasted to Post Q3 2024 Earnings of $2.63 Per Share

Wintrust Financial Co. (NASDAQ:WTFC) – Investment analysts at DA Davidson issued their Q3 2024 earnings estimates for Wintrust Financial in a research report issued on Thursday, October 3rd. DA Davidson analyst J. Rulis expects that the bank will earn $2.63 per share for the quarter. DA Davidson currently has a “Buy” rating and a $125.00 target price on the stock. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.09 per share. DA Davidson also issued estimates for Wintrust Financial’s FY2024 earnings at $10.20 EPS and FY2025 earnings at $10.50 EPS.

Several other research analysts also recently weighed in on the stock. Wedbush increased their price target on shares of Wintrust Financial from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Piper Sandler increased their price target on shares of Wintrust Financial from $113.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods cut 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 research note on Friday, July 19th. Truist Financial increased their price objective on shares of Wintrust Financial from $118.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Finally, Stephens reissued an “overweight” rating and issued a $115.00 price objective on shares of Wintrust Financial in a research note on Thursday, July 18th. Three equities 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. According to data from MarketBeat.com, Wintrust Financial currently has an average rating of “Moderate Buy” and an average target price of $118.23.

Wintrust Financial Stock Up 1.9 %

WTFC opened at $106.60 on Friday. The company has a current ratio of 0.99, a quick 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 $113.68. The company has a market capitalization of $7.09 billion, a PE ratio of 11.02 and a beta of 1.16. The firm’s 50 day simple moving average is $104.45 and its two-hundred day simple moving average is $101.14.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.10). The company had revenue of $591.76 million for the quarter, compared to the consensus estimate of $587.33 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 5.6% on a year-over-year basis. During the same quarter last year, the company earned $2.38 EPS.

Hedge Funds Weigh In On Wintrust Financial

Several institutional investors have recently bought and sold shares of the stock. Capital International Investors grew its stake in shares of Wintrust Financial by 79.5% in the 4th quarter. Capital International Investors now owns 1,566,003 shares of the bank’s stock worth $145,247,000 after buying an additional 693,452 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Wintrust Financial by 54.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,330,263 shares of the bank’s stock worth $138,866,000 after buying an additional 469,640 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Wintrust Financial by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,452,753 shares of the bank’s stock worth $673,603,000 after buying an additional 244,168 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Wintrust Financial by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,017,295 shares of the bank’s stock worth $297,376,000 after buying an additional 146,090 shares in the last quarter. Finally, F M Investments LLC purchased a new position in shares of Wintrust Financial in the 2nd quarter worth $11,850,000. 93.48% of the stock is owned by hedge funds and other institutional investors.

Wintrust Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.69%. Wintrust Financial’s payout ratio is 18.61%.

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.