Wintrust Financial Corporation (NASDAQ:WTFC) reported mixed second-quarter financial results, after the closing bell on Wednesday.
Wintrust Financial reported quarterly earnings of $2.32 per share which missed the analyst consensus estimate of $2.42 per share. The company reported quarterly sales of $591.757 million which beat the analyst consensus estimate of $587.329 million, according to data from Benzinga Pro.
Timothy S. Crane, President and Chief Executive Officer, said, "We are pleased with our record net income for the first half of 2024 and record quarterly net interest income. Robust loan and deposit growth coupled with a stabilizing margin drove our strong second quarter results. Pre-tax, pre-provision income (non-GAAP) also set the Company's record for the first half of 2024 and we believe we are well-positioned for strong financial performance as we continue our momentum into the second half of the year."
Wintrust Financial shares fell 0.1% to trade at $106.20 on Friday.
These analysts made changes to their price targets on Wintrust Financial following the announcement.
- Keefe, Bruyette & Woods analyst Christopher Mcgratty downgraded Wintrust Financial from Outperform to Market Perform, but raised the price target from $110 to $115.
- Piper Sandler analyst Nathan Race maintained the stock with an Overweight rating and increased the price target from $113 to $125.
- DA Davidson analyst Kevin Reevey maintained Wintrust Financial with a Buy rating and raised the price target from $120 to $125.
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