DA Davidson Has Pessimistic Outlook of WTFC FY2024 Earnings

Wintrust Financial Co. (NASDAQ:WTFC) – Stock analysts at DA Davidson decreased their FY2024 EPS estimates for Wintrust Financial in a research report issued to clients and investors on Wednesday, October 23rd. DA Davidson analyst J. Rulis now expects that the bank will earn $10.15 per share for the year, down from their previous forecast of $10.20. DA Davidson currently has a “Buy” rating and a $130.00 target price on the stock. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.11 per share.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings data on Monday, October 21st. The bank reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.03). The firm had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.53 earnings per share.

Several other research firms have also weighed in on WTFC. Royal Bank of Canada boosted their price target on Wintrust Financial from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of Wintrust Financial in a report on Tuesday. Raymond James boosted their price objective on Wintrust Financial from $125.00 to $135.00 and gave the stock a “strong-buy” rating in a report on Wednesday. Truist Financial lifted their price target on Wintrust Financial from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and issued a $115.00 price objective on shares of Wintrust Financial in a report on Thursday, July 18th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wintrust Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Wintrust Financial Stock Performance

Shares of WTFC opened at $113.02 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.73. Wintrust Financial has a 12 month low of $72.14 and a 12 month high of $117.77. The firm has a fifty day simple moving average of $107.69 and a 200 day simple moving average of $102.32. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 11.69 and a beta of 1.16.

Insiders Place Their Bets

In other news, CFO David L. Stoehr sold 1,607 shares of Wintrust Financial stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $113.46, for a total value of $182,330.22. Following the transaction, the chief financial officer now owns 14,874 shares in the company, valued at approximately $1,687,604.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.47% of the company’s stock.

Hedge Funds Weigh In On Wintrust Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted 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 valued at $673,603,000 after acquiring an additional 244,168 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Wintrust Financial by 157.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 190,416 shares of the bank’s stock valued at $19,878,000 after purchasing an additional 116,503 shares in the last quarter. Capital International Investors grew its holdings in shares of Wintrust Financial by 4.6% during the first quarter. Capital International Investors now owns 1,638,085 shares of the bank’s stock worth $171,000,000 after purchasing an additional 72,082 shares during the last quarter. Choreo LLC acquired a new position in shares of Wintrust Financial in the second quarter valued at approximately $1,115,000. Finally, Raymond James & Associates raised its holdings in Wintrust Financial by 2.7% in the 2nd quarter. Raymond James & Associates now owns 207,944 shares of the bank’s stock valued at $20,495,000 after buying an additional 5,563 shares during the last quarter. Institutional investors own 93.48% of the company’s stock.

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.