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Wintrust Financial Co. (NASDAQ: WTFC - Get a rating) – Equity researchers at Jefferies Financial Group raised their earnings per share estimates for fiscal year 2022 for Wintrust Financial in a research report released Wednesday, April 20. Jefferies Financial Group analyst C. Haire now expects the bank to earn $8.22 per share for the year, up from his previous estimate of $7.35. Jefferies Financial Group also released estimates for Wintrust Financial Q1 2023 earnings at $2.17 EPS, Q2 2023 earnings at $2.32 EPS, Q3 2023 earnings at $2.30 EPS, earnings Q4 2023 at $2.31 EPS and FY2023 earnings at $9.10 EPS. Wintrust Financial (NASDAQ: WTFC - Get a rating) last released its quarterly results on Tuesday, April 19. The bank reported earnings per share (EPS) of $2.07 for the quarter, beating the consensus estimate of $1.55 by $0.52. Wintrust Financial had a net margin of 23.67% and a return on equity of 10.95%. The company posted revenue of $462.08 million in the quarter, compared to $427.66 million expected by analysts. In the same period a year earlier, the company posted earnings per share of $2.54. The company’s revenue for the quarter increased 3.1% year over year.
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A number of other research analysts have also recently released reports on the stock. Raymond James raised his price target on Wintrust Financial shares from $124.00 to $130.00 and gave the company a “strong buy” rating in a report on Thursday. Royal Bank of Canada raised its target price on shares of Wintrust Financial from $110.00 to $122.00 in a Friday, January 21 report. Janney Montgomery Scott upgraded Wintrust Financial shares from a “neutral” rating to a “buy” rating in a Tuesday, March 8 report. Piper Sandler raised her price target on Wintrust Financial shares from $120.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday. Finally, UBS Group raised its price target on Wintrust Financial shares from $95.00 to $104.00 in a research note on Thursday. Two equity research analysts gave the stock a hold rating, six gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $113.88.
Wintrust Financial shares opened at $92.78 on Monday. Wintrust Financial has a 12-month low of $65.66 and a 12-month high of $105.56. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt ratio of 0.59. The stock has a market capitalization of $5.31 billion, a PE ratio of 13.03, a growth price-earnings ratio of 0.82 and a beta of 1.34. The company has a 50-day moving average of $93.94 and a two-hundred-day moving average of $93.41.
A number of hedge funds and other institutional investors have recently changed their positions in the stock. BlackRock Inc. increased its position in Wintrust Financial by 1.4% during the third quarter. BlackRock Inc. now owns 5,615,478 shares of the bank worth $451,317,000 after acquiring an additional 75,092 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Wintrust Financial by 2.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,649,342 shares of the bank worth $212,928,000 after acquiring an additional 69,751 shares in the last quarter. State Street Corp increased its holdings of Wintrust Financial shares by 4.6% in the fourth quarter. State Street Corp now owns 2,509,105 shares of the bank valued at $227,877,000 after buying an additional 111,076 shares in the last quarter. Victory Capital Management Inc. increased its holdings of Wintrust Financial shares by 543.4% in Q4. Victory Capital Management Inc. now owns 2,016,187 shares of the bank valued at $183,111,000 after purchasing an additional 1,702,814 shares in the last quarter. Finally, Invesco Ltd. increased its holdings of Wintrust Financial shares by 7.1% in Q3. Invesco Ltd. now owns 824,217 shares of the bank valued at $66,243,000 after purchasing an additional 54,799 shares in the last quarter. Hedge funds and other institutional investors hold 91.36% of the company’s shares.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 24. Shareholders of record on Thursday, February 10 received a dividend of $0.34 per share. This represents a dividend of $1.36 on an annualized basis and a dividend yield of 1.47%. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, February 9. Wintrust Financial’s dividend payout ratio (DPR) is 19.10%.
Wintrust Financial Company Profile (Get a rating)
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-intermediate interest bearing transaction accounts, as well as domestic savings and term deposits; home, consumer and real estate loans; safes; and automated teller machine (ATM), online and mobile banking and other services.
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