DA Davidson Forecasts Weaker Earnings for Wintrust Financial

Wintrust Financial Co. (NASDAQ:WTFC - Free Report) - Equities researchers at DA Davidson dropped their FY2024 EPS estimates for shares of Wintrust Financial in a note issued to investors on Wednesday, October 23rd. DA Davidson analyst J. Rulis now forecasts that the bank will post earnings of $10.15 per share for the year, down from their previous estimate of $10.20. DA Davidson currently has a "Buy" rating and a $130.00 price target on the stock. The consensus estimate for Wintrust Financial's current full-year earnings is $10.11 per share.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.47 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 16.52% and a return on equity of 11.99%. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.53 earnings per share.

Other analysts have also issued research reports about the stock. Truist Financial lifted their price objective on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday. Piper Sandler upped their price objective on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an "overweight" rating in a report on Wednesday. Stephens restated an "overweight" rating and issued a $115.00 target price on shares of Wintrust Financial in a research note on Thursday, July 18th. Wedbush reaffirmed an "outperform" rating and set a $130.00 price target on shares of Wintrust Financial in a research note on Tuesday. Finally, Keefe, Bruyette & Woods cut Wintrust Financial from an "outperform" rating to a "market perform" rating and raised their price objective for the company from $110.00 to $115.00 in a research note on Friday, July 19th. Three equities research 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's stock. According to data from MarketBeat.com, Wintrust Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.00.

Wintrust Financial Trading Down 1.0 %

Wintrust Financial stock traded down $1.15 during trading hours on Friday, reaching $113.02. 305,265 shares of the company's stock were exchanged, compared to its average volume of 383,999. The firm's 50 day simple moving average is $107.69 and its 200 day simple moving average is $102.32. Wintrust Financial has a twelve month low of $72.14 and a twelve month high of $117.77. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $7.52 billion, a PE ratio of 11.83 and a beta of 1.16.

Hedge Funds Weigh In On Wintrust Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Voisard Asset Management Group Inc. purchased a new position in Wintrust Financial in the third quarter valued at about $148,000. S.A. Mason LLC purchased a new stake in Wintrust Financial in the third quarter worth $239,000. Nisa Investment Advisors LLC raised its stake in shares of Wintrust Financial by 1.1% in the third quarter. Nisa Investment Advisors LLC now owns 28,490 shares of the bank's stock valued at $3,092,000 after buying an additional 315 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Wintrust Financial by 16.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,718 shares of the bank's stock worth $837,000 after acquiring an additional 1,105 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in Wintrust Financial by 5.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the bank's stock worth $1,997,000 after acquiring an additional 900 shares during the last quarter. Institutional investors own 93.48% of the company's stock.

Insider Transactions at Wintrust Financial

In other news, CFO David L. Stoehr sold 1,607 shares of the business's stock in a transaction that occurred 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 $1,687,604.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.47% 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.