ROSEMONT, Ill, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced net income of $509.7 million or $7.67 per diluted common share for the first nine months of 2024 compared to net income of $499.1 million or $7.71 per diluted common share for the same period of 2023. Pre-tax, pre-provision income (non-GAAP) for the first nine months of 2024 totaled a record $778.1 million, compared to $751.3 million in the first nine months of ...

Core Viewpoint - The market anticipates a year-over-year decline in Wintrust Financial's earnings despite an increase in revenues when it reports its results for the quarter ended September 2024 [1][3]. Earnings Expectations - Wintrust is expected to report quarterly earnings of $2.50 per share, reflecting a -1.2% change year-over-year, with revenues projected at $621.35 million, an increase of 8.1% from the previous year [3]. - The earnings report is scheduled for release on October 21, 2024, and could influence stock movement based on whether the actual results exceed or fall short of expectations [2]. Estimate Revisions - The consensus EPS estimate has been revised 0.29% higher in the last 30 days, indicating a slight bullish sentiment among analysts [4]. - The Most Accurate Estimate for Wintrust is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +0.54%, suggesting a likelihood of beating the consensus EPS estimate [10]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive Earnings ESP reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [8]. - Wintrust currently holds a Zacks Rank of 3, which, along with the positive Earnings ESP, suggests a favorable outlook for the upcoming earnings report [10]. Historical Performance - In the last reported quarter, Wintrust was expected to post earnings of $2.40 per share but delivered $2.32, resulting in a surprise of -3.33% [11]. - Over the past four quarters, Wintrust has beaten consensus EPS estimates two times [12]. Industry Comparison - Another player in the Zacks Banks - Midwest industry, Commerce Bancshares, is expected to report earnings of $1 per share, reflecting a year-over-year increase of +9.9% [16]. - Commerce Bancshares has a lower Most Accurate Estimate leading to an Earnings ESP of -0.33%, making it challenging to predict a beat against the consensus EPS estimate [17].

One bank that I have been following for a little while now is Wintrust Financial Corporation (NASDAQ: WTFC ). For those not familiar with it, it is a financial institution that operates mostly around the Chicago metropolitan area, parts of Southern Wisconsin, and Crude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential. Subscribers get to use a 50+ sto ...

ROSEMONT, Ill., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC) today announced it will release third quarter and year-to-date 2024 earnings results after the market closes on Monday, October 21, 2024 and host a conference call on Tuesday, October 22, 2024 at 10:00 a.m. (CDT). For individuals wanting to listen to a simultaneous audio-only web cast, this may be accessed at Webcast Link. Individuals interested in participating in the call by addressing questions t ...

ROSEMONT, Ill., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (Nasdaq: WTFC) today announced the appointment of Gina Stuart as its new SVP, Diversity, Equity, and Inclusion. Stuart brings more than 20 years of leadership experience in human resources, including regulatory and compliance, as well as diversity and inclusion. "We are thrilled to welcome Gina to Wintrust," said Tim Crane, President and CEO of Wintrust. "Given her wealth of experience as a strategic business partner and advoc ...

ROSEMONT, Ill., Aug. 22, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC) today announced it has selected First Dollar to power health savings accounts, health flexible spending accounts, health reimbursement arrangements, and other employee benefit accounts. Wintrust will leverage First Dollar's best-in-class technology to enhance and elevate its consumer-directed health and lifestyle accounts portfolio for a fully integrated benefit experience aligned with the Wintrust s ...

ROSEMONT, Ill. and HOLLAND, Mich., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC) and Macatawa Bank Corporation ("Macatawa") today jointly announced the completion of their previously announced merger whereby Wintrust acquired Macatawa in an all-stock transaction. Macatawa was the parent company of Macatawa Bank, which is headquartered in Holland, Michigan and operates a network of 26 full-service branches located throughout communities in Kent, Ottawa and north ...

Core Viewpoint - Wintrust Financial Corporation has successfully completed the acquisition of Macatawa Bank Corporation in an all-stock transaction valued at approximately $510.3 million, enhancing Wintrust's presence in West Michigan [1][4]. Company Overview - Wintrust Financial Corporation is a financial holding company with approximately $62 billion in assets and operates 16 community bank subsidiaries across various regions, including greater Chicago and West Michigan [6]. - Macatawa Bank, founded in 1997, has around $2.7 billion in assets, $2.3 billion in deposits, and $1.3 billion in loans as of June 30, 2024, and operates 26 full-service branches [2][8]. Transaction Details - The merger involved converting each of Macatawa's 34,361,562 common shares into the right to receive 0.137 shares of Wintrust common stock, with a cash payment for fractional shares [4]. - The transaction is not expected to materially affect Wintrust's earnings per share for 2024 [4]. Leadership and Cultural Integration - Wintrust's CEO Timothy S. Crane emphasized that Macatawa Bank's strong core deposit base and client-focused culture will enhance Wintrust's competitive position in the area [3]. - Richard L. Postma, former Chairman of Macatawa, will join Wintrust's Board of Directors, ensuring continuity in leadership and community presence [3]. Strategic Benefits - The merger allows Wintrust to retain the Macatawa Bank name and key employees, maintaining its community banking identity while providing enhanced services and technology [3]. - The integration aims to combine similar cultures and operating philosophies, benefiting both consumer and commercial clients [3].

ROSEMONT, Ill., July 25, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust" or the "Company") (Nasdaq: WTFC) today announced that the Company's Board of Directors approved a quarterly cash dividend of $0.45 per share of outstanding common stock. The dividend is payable on August 22, 2024 to shareholders of record as of August 8, 2024. Additionally, the Company's Board of Directors approved quarterly cash dividends on outstanding shares of the Company's 6.50% Fixed-to-Floating Non-Cumulative ...

ROSEMONT, Ill., July 25, 2024 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation ("Wintrust" or the "Company") (Nasdaq: WTFC) today announced that the Company's Board of Directors approved a quarterly cash dividend of $0.45 per share of outstanding common stock. The dividend is payable on August 22, 2024 to shareholders of record as of August 8, 2024. Wintrust is a financial holding company with assets of approximately $59.8 billion whose common stock is traded on the Nasdaq Global Select Market. Built on t ...