Wintrust Posts $3.37 Q3 EPS, Topping Last Quarter's $3.30
WTFC sits 19% above its 52-week low of $120.13.
Summary
Wintrust reported third-quarter EPS of $3.37, up from $3.30 in Q2, when it posted record net income of $233.7 million on broad loan growth and higher net interest income. The sequential gain suggests the earnings momentum carried into Q3, and the full quarter showed net income of $239.1 million on revenue of $757.9 million, with net interest income of $621.6 million and noninterest income of $136.3 million. The credit-loss provision was $25.9 million. For a regional bank of this size, a few cents of EPS upside is a modest but real positive, and the release's net interest margin and provision line now give the stock's reaction its substance. Loan growth and credit metrics, which drove the prior quarter's record, remain the figures to watch.
At the time of this announcement, WTFC was trading at $143.00 on NASDAQ in the Finance sector, with a market capitalization of approximately $9.6B. The 52-week trading range was $120.13 to $167.22. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.