Wintrust Fincl Stock Price, News & Analysis

Wintrust Financial Corporation (WTFC) reported a net income of $94.5 million or $1.49 per diluted share for Q2 2022, a 28% decrease from Q1 2022. For the first half of 2022, net income totaled $221.9 million compared to $258.3 million in the same period last year. Total loans, excluding PPP loans, increased by $1.9 billion (22% annualized), and net interest income rose by $38.5 million. However, mortgage banking revenue saw a sharp decline to $33.3 million from $77.2 million in Q1. The allowance for credit losses increased to 1.31% of the loan portfolio.

Wintrust Financial Corporation (Nasdaq: WTFC) announced an increase in the minimum wage for eligible non-commission hourly employees to $18 per hour, effective August 1, 2022. This initiative reflects Wintrust's commitment to investing in its workforce, which the CEO, Edward J. Wehmer, attributes to the company's growth and success. Wintrust is a financial holding company with approximately $50 billion in assets and operates 15 community bank subsidiaries across the greater Chicago and southern Wisconsin areas.

Wintrust Financial Corporation (Nasdaq: WTFC) will release its second quarter and year-to-date 2022 earnings results on July 20, 2022. A conference call is scheduled for July 21, 2022, at 10:00 a.m. CDT, allowing participants to engage with management. Those interested can register for participation through a provided link. An audio-only webcast will also be available. With $50 billion in assets, Wintrust focuses on community banking while offering a range of financial services, including insurance financing and mortgage origination.

Wintrust Financial Corporation (NASDAQ: WTFC) announced the pricing of its underwritten public offering of 3,000,000 shares at $86.00 per share. The offering is expected to close on June 10, 2022, subject to customary conditions. Wintrust anticipates net proceeds of approximately $248.4 million, intended for general corporate purposes. The underwriters have a 30-day option to purchase an additional 450,000 shares. RBC Capital Markets and Raymond James & Associates are joint book-running managers for the offering.

Wintrust Financial Corporation (NASDAQ: WTFC) has initiated an underwritten public offering of 2,700,000 shares of its common stock, with an option for underwriters to purchase up to 405,000 additional shares within 30 days. The offering will utilize proceeds for general corporate purposes. RBC Capital Markets and Raymond James are managing the offering. This offering follows an effective shelf registration statement under the Securities Act of 1933. Investors can find additional information via the SEC’s website.

Wintrust Financial Corporation (Nasdaq: WTFC) announced a quarterly cash dividend of $0.34 per share, payable on May 26, 2022, to shareholders of record by May 12, 2022. Additionally, it approved dividends on its 6.50% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, and 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, which are payable on July 15, 2022, to shareholders of record as of July 1, 2022. Wintrust has over $50 billion in assets and operates multiple bank and non-bank business units.

Wintrust Financial Corporation (WTFC) reported a net income of $127.4 million or $2.07 per diluted share for Q1 2022, marking a 31% increase from Q4 2021. Total loans, excluding PPP loans, grew by $796 million (9% annualized), while core loans rose by $486 million. Total assets reached $50.3 billion, and total deposits rose by $124 million. Net interest income increased by $3.3 million, despite two fewer days in the quarter. Mortgage banking revenue surged to $77.2 million, demonstrating strong performance in the mortgage sector. Non-performing loans decreased to 0.16%.

Wintrust Financial Corporation (NASDAQ: WTFC) has achieved the highest ranking in the J.D. Power 2022 U.S. Retail Banking Satisfaction Study for the Illinois Region. This ranking, derived from over 101,000 customer responses, reflects Wintrust’s excellence in overall satisfaction and service categories such as trust, problem resolution, and convenience. Wintrust operates over 170 banking locations, emphasizing community banking and customer relationships. The company, with approximately $50 billion in assets, continues to receive recognition for its innovative services and commitment to its customers.