DA Davidson Comments on Wintrust Financial Co.’s Q2 2023 Earnings (NASDAQ:WTFC)

Posted by Defense World Staff on Apr 24th, 2023

Wintrust Financial Co. (NASDAQ:WTFC – Get Rating) – Research analysts at DA Davidson issued their Q2 2023 earnings per share estimates for Wintrust Financial in a report issued on Friday, April 21st. DA Davidson analyst J. Rulis expects that the bank will earn $2.50 per share for the quarter. The consensus estimate for Wintrust Financial’s current full-year earnings is $10.30 per share. DA Davidson also issued estimates for Wintrust Financial’s FY2023 earnings at $10.35 EPS and FY2024 earnings at $10.50 EPS.

Wintrust Financial (NASDAQ:WTFC – Get Rating) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.25. Wintrust Financial had a return on equity of 12.84% and a net margin of 22.82%. The company had revenue of $565.76 million during the quarter, compared to analysts’ expectations of $567.68 million. During the same quarter in the previous year, the business earned $2.07 earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis.

A number of other equities research analysts have also recently weighed in on the company. Truist Financial reduced their price objective on Wintrust Financial from $104.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, March 23rd. Keefe, Bruyette & Woods reduced their price objective on Wintrust Financial from $110.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, April 6th. Raymond James cut their price target on Wintrust Financial from $110.00 to $95.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 6th. StockNews.com upgraded Wintrust Financial from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Royal Bank of Canada cut their price target on Wintrust Financial from $108.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, March 14th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wintrust Financial currently has an average rating of “Moderate Buy” and a consensus price target of $97.64.

Wintrust Financial Price Performance

Shares of NASDAQ WTFC opened at $70.37 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78. Wintrust Financial has a twelve month low of $57.48 and a twelve month high of $97.81. The stock has a 50 day moving average of $79.54 and a two-hundred day moving average of $85.33. The stock has a market cap of $4.31 billion, a P/E ratio of 8.06, a P/E/G ratio of 0.40 and a beta of 1.17.

Wintrust Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 23rd. Shareholders of record on Thursday, February 9th were given a $0.40 dividend. This is a boost from Wintrust Financial’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, February 8th. This represents a $1.60 annualized dividend and a yield of 2.27%. Wintrust Financial’s dividend payout ratio is presently 18.33%.

Insiders Place Their Bets

In other Wintrust Financial news, Director H Patrick Hackett, Jr. acquired 7,100 shares of the business’s stock in a transaction on Monday, March 13th. The stock was purchased at an average price of $73.31 per share, for a total transaction of $520,501.00. Following the completion of the transaction, the director now owns 47,173 shares of the company’s stock, valued at approximately $3,458,252.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.41% of the stock is currently owned by company insiders.

Institutional Trading of Wintrust Financial

Several large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Wintrust Financial by 4.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,015 shares of the bank’s stock valued at $255,000 after purchasing an additional 123 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Wintrust Financial by 37.3% in the third quarter. Parkside Financial Bank & Trust now owns 464 shares of the bank’s stock valued at $38,000 after purchasing an additional 126 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Wintrust Financial by 6.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,048 shares of the bank’s stock valued at $172,000 after purchasing an additional 126 shares during the last quarter. Texas Permanent School Fund grew its holdings in Wintrust Financial by 0.3% in the third quarter. Texas Permanent School Fund now owns 43,685 shares of the bank’s stock valued at $3,563,000 after purchasing an additional 128 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Wintrust Financial by 48.9% in the third quarter. Private Trust Co. NA now owns 411 shares of the bank’s stock valued at $34,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 89.47% of the company’s stock.

About Wintrust Financial

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Wintrust Financial Corp. operates as holding company, which engages in the provision of banking and financial services. It operates through the following segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment provides community-oriented, personal, and commercial banking services to customers located in its market area.