Wintrust Financial Corporation (WTFC) Expected to Post Quarterly Sales of $296.53 Million
Equities analysts predict that Wintrust Financial Corporation (NASDAQ:WTFC) will report $296.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Wintrust Financial Corporation’s earnings. The highest sales estimate is $302.00 million and the lowest is $291.10 million. Wintrust Financial Corporation reported sales of $271.24 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.3%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, October 18th.
On average, analysts expect that Wintrust Financial Corporation will report full year sales of $296.53 million for the current fiscal year, with estimates ranging from $1.14 billion to $1.16 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.24 billion per share, with estimates ranging from $1.22 billion to $1.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Wintrust Financial Corporation.
Wintrust Financial Corporation (NASDAQ:WTFC) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.12. Wintrust Financial Corporation had a net margin of 19.24% and a return on equity of 9.15%. The business had revenue of $294.38 million during the quarter, compared to the consensus estimate of $279.69 million. During the same quarter last year, the firm posted $0.90 EPS. Wintrust Financial Corporation’s revenue was up 13.2% compared to the same quarter last year.
Several equities research analysts recently weighed in on the company. Stephens cut Wintrust Financial Corporation from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 10th. BidaskClub cut Wintrust Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies set a $72.00 price target on Wintrust Financial Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $80.00 price target on shares of Wintrust Financial Corporation in a research note on Sunday, June 11th. Finally, Hovde Group reaffirmed a “market perform” rating and issued a $80.00 price target (up from $76.50) on shares of Wintrust Financial Corporation in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $81.13.
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In other news, insider Edward J. Wehmer sold 29,779 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $76.89, for a total transaction of $2,289,707.31. Following the transaction, the insider now directly owns 137,352 shares of the company’s stock, valued at $10,560,995.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary D. Sweeney purchased 485 shares of the stock in a transaction dated Friday, July 21st. The shares were acquired at an average cost of $77.12 per share, for a total transaction of $37,403.20. Following the completion of the acquisition, the director now owns 2,186 shares of the company’s stock, valued at $168,584.32. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.
Large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in shares of Wintrust Financial Corporation during the second quarter valued at $121,000. Exane Derivatives bought a new position in shares of Wintrust Financial Corporation during the second quarter valued at $128,000. Essex Investment Management Co. LLC bought a new position in shares of Wintrust Financial Corporation during the second quarter valued at $215,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Wintrust Financial Corporation by 3.4% during the first quarter. Oppenheimer & Co. Inc. now owns 2,956 shares of the bank’s stock valued at $204,000 after purchasing an additional 96 shares in the last quarter. Finally, Trust Co. of Toledo NA OH bought a new position in shares of Wintrust Financial Corporation during the second quarter valued at $228,000. 90.65% of the stock is currently owned by hedge funds and other institutional investors.
Wintrust Financial Corporation (WTFC) traded up 0.50% during mid-day trading on Friday, reaching $78.35. 36,389 shares of the company traded hands. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 19.76 and a beta of 0.83. The company’s 50-day moving average is $73.23 and its 200-day moving average is $72.80. Wintrust Financial Corporation has a 12-month low of $51.66 and a 12-month high of $80.52.
About Wintrust Financial Corporation
Wintrust Financial Corporation is a financial holding company. The Company conducts its businesses through three segments: community banking, specialty finance and wealth management. The Company offers community banking services to individuals, small to mid-sized businesses, local governmental units and institutional clients.
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