Wintrust Financial (NASDAQ:WTFC) Shares Gap Down on Disappointing Earnings

by · The Markets Daily

Shares of Wintrust Financial Co. (NASDAQ:WTFC – Get Free Report) gapped down before the market opened 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.

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 business had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. During the same quarter in the prior year, the firm earned $2.53 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year.

Wintrust Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.45 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 1.60%. Wintrust Financial’s dividend payout ratio is currently 18.61%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WTFC. DA Davidson raised their target price on Wintrust Financial from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Wedbush boosted their price target on shares of Wintrust Financial from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Truist Financial raised their price objective on Wintrust Financial from $118.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Piper Sandler boosted their target price on Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Stephens reaffirmed an “overweight” rating and set a $115.00 price target on shares of Wintrust Financial in a research report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.23.

Get Our Latest Stock Analysis on Wintrust Financial

Institutional Investors Weigh In On Wintrust Financial

Several large investors have recently made changes to their positions in WTFC. Allspring Global Investments Holdings LLC lifted its stake in Wintrust Financial by 7.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 203,285 shares of the bank’s stock valued at $22,063,000 after acquiring an additional 14,699 shares during the last quarter. Vest Financial LLC raised its holdings in shares of Wintrust Financial by 16.4% in the 3rd quarter. Vest Financial LLC now owns 13,725 shares of the bank’s stock valued at $1,490,000 after purchasing an additional 1,931 shares during the period. Raymond James & Associates lifted its stake in Wintrust Financial by 5.2% in the 3rd quarter. Raymond James & Associates now owns 218,733 shares of the bank’s stock valued at $23,739,000 after purchasing an additional 10,789 shares during the last quarter. Well Done LLC bought a new position in Wintrust Financial during the third quarter worth about $1,259,000. Finally, Hunter Perkins Capital Management LLC increased its position in Wintrust Financial by 14.4% during the third quarter. Hunter Perkins Capital Management LLC now owns 9,560 shares of the bank’s stock worth $1,038,000 after buying an additional 1,205 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Wintrust Financial Stock Up 0.2 %

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a 50 day simple moving average of $106.20 and a 200-day simple moving average of $101.88. The stock has a market cap of $6.95 billion, a P/E ratio of 11.75 and a beta of 1.16.

Wintrust Financial Company Profile

(Get Free Report)

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.

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