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Wintrust Financial (WTFC)
:WTFC
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Earnings Data
Report Date
Jan 21, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
2.48Last Year’s EPS
1.87Same Quarter Last Year
Strong Buy
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 17, 2018
|% Change Since: 19.26%
|Next Earnings Date:Jul 17, 2018
Earnings Call Sentiment|Positive
The earnings call presented a positive outlook with significant achievements such as record net income, substantial loan and deposit growth, and increased market share in the Chicago area. While there were some challenges like unfavorable mortgage servicing rights activity and increased noninterest expenses, the positive aspects, including stable credit performance and a strong net interest margin, outweighed these issues.Company Guidance
During the Wintrust Financial Corporation Q3 2024 earnings call, the executives provided guidance highlighting several key financial metrics. They reported a net income of over $170 million for the quarter and a record net income of nearly $510 million for the first three quarters. Loans grew by $2.4 billion, with $1.3 billion acquired from Macatawa Bank and $1.1 billion organically. Deposits increased by $3.4 billion, including $2.3 billion from Macatawa and $1.1 billion organically. The company reduced higher-rate brokered deposits by over $800 million, benefiting from excess deposits from the Macatawa acquisition. The net interest margin stood at 3.51%, in line with expectations, generating record net interest income of $503 million, up $32 million from Q2. Nonperforming loans remained low, and charge-offs decreased. The company anticipates continued growth in net interest income, maintaining a balanced interest rate sensitivity. Despite muted mortgage activity, the treasury management and wealth businesses demonstrated steady growth. The executives expressed optimism for continued loan growth in the mid-to-high single digits and highlighted a stable credit environment, positioning Wintrust for further success into the remainder of 2024 and 2025.Record Net Income Achieved
Net income for the quarter was over $170 million, contributing to a record net income of just under $510 million for the first three quarters of the year.
Significant Loan and Deposit Growth
Loans grew by $2.4 billion, with $1.3 billion acquired from Macatawa Bank and $1.1 billion organically. Deposits increased by over $3.4 billion, with $2.3 billion from Macatawa and $1.1 billion organically.
Increased Market Share in Chicago
Wintrust increased its deposit share in the Chicago MSA to 7.7%, while larger competitors like Chase and Bank of America lost share.
Stable Net Interest Margin
The net interest margin was stable at 3.51%, contributing to a record net interest income of $503 million, an increase of approximately $32 million from the previous quarter.
Strong Credit Performance
Nonperforming loans remained low, essentially flat from the second quarter, and charge-offs were down for the quarter.
Asset-Based Portfolio Growth
The asset-based portfolio grew by $243 million due to new customers and higher line utilization.
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WTFC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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WTFC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $111.90 | $114.37 | +2.21% |
| Jul 17, 2024 | $110.93 | $105.40 | -4.99% |
| Apr 17, 2024 | $93.77 | $94.11 | +0.36% |
| Jan 17, 2024 | $91.56 | $93.99 | +2.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Wintrust Financial (WTFC) report earnings?
Wintrust Financial (WTFC) is schdueled to report earning on Jan 21, 2025, TBA Not Confirmed.
What is Wintrust Financial (WTFC) earnings time?
Wintrust Financial (WTFC) earnings time is at Jan 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WTFC EPS forecast?
WTFC EPS forecast for the fiscal quarter 2024 (Q4) is 2.48.
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