- Total deposits for Wintrust Financial reached $51.40 billion, marking a 7% quarterly increase, aligning with the estimated $51.24 billion.
- Total loans grew by 5.4% over the previous quarter, totaling $47.07 billion, slightly surpassing the $46.68 billion estimate.
- Cash and due from banks showed a significant increase of 75% quarter-over-quarter, amounting to $725.5 million.
- Earnings per share (EPS) were $2.47, a slight decrease compared to $2.53 year-over-year.
- Net revenue rose by 7.1% year-over-year, reaching $615.7 million, although this was below the estimated $626.4 million.
- Net interest income increased by 8.7% year-over-year to $502.6 million, exceeding the forecast of $498.7 million.
- Net interest margin was 3.49%, slightly down from 3.6% the previous year, but slightly above the estimated 3.46%.
- Return on average equity decreased to 11.6% from 13.4% year-over-year, just under the 11.7% estimate.
- Book value per share rose significantly to $90.06 compared to $75.19 the previous year, surpassing the estimated $86.49.
- The CEO noted that third quarter and year-to-date net income was driven by strong organic growth in loans and deposits, along with a stable net interest margin.
- It is expected that the net interest margin will remain stable around 3.50% through the fourth quarter of 2024 and into 2025.
- The company received 10 buy recommendations, 2 hold recommendations, and no sell recommendations from analysts.
A look at Wintrust Financial Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts believe Wintrust Financial Corporation, a multi-bank holding company based in Chicago, Illinois, has a positive long-term outlook based on its Smart Scores. With a high Value score of 4 and Growth score of 4, Wintrust Financial is viewed favorably in terms of its financial health and potential for expansion. Additionally, the company’s Momentum score of 5 indicates strong positive price trends, highlighting investor interest and confidence in the stock.
However, some caution may be warranted as Wintrust Financial received a lower Resilience score of 2, suggesting potential vulnerability to market changes. Despite this, the company’s solid Dividend score of 3 indicates a moderate ability to provide returns to shareholders through dividends. Overall, Wintrust Financial‘s diverse range of banking services and subsidiaries position it well for long-term success in the competitive financial industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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