NASDAQ$WTFC

Wintrust Financial Corporation · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported net income of $109.1 million, driven by organic loan and deposit growth, increased net interest income, strong mortgage banking revenue and tangible book value growth.

Wintrust Financial Corporation reported a net income of $109.1 million for Q3 2021, an increase from $105.1 million in Q2 2021. Total assets increased to $47.8 billion. The company experienced significant loan growth, excluding PPP loans, and deposit growth.

  • Net income of $109.1 million for the third quarter of 2021, up from $105.1 million in the second quarter of 2021.
  • Significant organic loan and deposit growth.
  • Increased net interest income.
  • Strong mortgage banking revenue.

Headline financials

Total Revenue

$424M

Previous: $427M-0.6%
EPS (adj)

$1.77

Previous: $1.67+6.0%
Net Interest Margin

2.6%

Previous: 2.6%+0.8%
Net Overhead Ratio

1.2%

Previous: 0.9%+40.2%
ROA

0.9%

Previous: 1.0%-7.1%
ROACE

10.3%

Previous: 10.7%-3.3%
Capital Expenditures

-$23.4M

Previous: -$54.4M+56.9%
Free Cash Flow

$85.7M

Previous: $52.9M+61.9%
Net Income

$109M

Previous: $107M+1.7%
Operating Income

$354M

Previous: $320M+10.6%
Gross Profit

$416M

Previous: $402M+3.6%
Cash & Equivalents

$5.69B

Previous: $4.13B+37.7%
Total Assets

$47.8B

Previous: $43.7B+9.4%
Stock-Based Comp

$3.24M

Previous: $1.26M+158.4%

Revenue & EPS history

Wintrust · Revenue · Quarterly

$424M

Q3 2021-0.6%vs Q3 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Forward guidance

The company expects to leverage its diversified loan portfolio to outperform peers with respect to loan growth and is focused on deploying excess liquidity into earning assets.

Tailwinds

  • Leverage diversified loan portfolio to outperform peers with respect to loan growth.
  • Expand net interest income.
  • Take advantage of market opportunities to prudently deploy excess liquidity into earning assets.
  • Maintain an interest rate sensitive asset portfolio.
  • Opportunistically evaluating the acquisition market.

Headwinds

  • Mortgage originations will decline by 20-30% in the fourth quarter of 2021 as compared to the third quarter of 2021 due to the seasonal decline in home purchase activity and declining refinance volumes.
  • Challenging interest rate environment.
  • Increased liquidity affecting net interest margin.
  • Uncertainty in the positive directionality of macroeconomic factors.
  • Potential dilution from acquisitions.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

-0.3%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+2.2%

Avg return

30 days after

54%

37 / 68 earnings

Positive

+9.3%

Q3 2021

Best reaction

-9.7%

Q2 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.8%-0.6%+0.5%
Q4 2025+4.5%+1.2%+8.0%
Q3 2025+2.2%+2.0%+1.1%
Q2 2025-0.6%+0.7%+6.0%
Q1 2025+5.2%+9.2%+17.0%
Q3 2024-0.5%-2.0%+13.4%
Q2 2024-5.0%-3.1%-10.0%
Q1 2024+0.9%+5.1%+7.9%
Q4 2023+2.1%+6.1%+3.5%
Q3 2023+1.5%-1.6%+12.0%
Q2 2023+3.3%+2.1%-5.1%
Q1 2023-1.4%-3.1%-8.9%
Q4 2022-1.9%+2.7%+7.1%
Q3 2022+0.9%-0.6%-4.5%
Q2 2022+1.8%+2.3%+5.7%
Q1 2022+7.4%+3.9%-9.1%
Q4 2021-2.7%-3.5%-3.2%
Q3 2021+9.3%+9.6%+10.3%
Q2 2021-1.2%-3.1%+0.6%
Q1 2021-6.2%-1.3%-1.8%
Q4 2020-5.5%-5.5%-0.3%
Q3 2020+3.2%+0.7%+12.3%
Q2 2020+5.1%+7.3%+3.6%
Q1 2020+4.7%+6.4%+14.5%
Q4 2019-5.4%-7.1%-5.7%
Q3 2019-2.2%+0.2%+1.9%
Q2 2019-9.7%-7.4%-15.4%
Q1 2019+1.8%+0.1%-3.8%
Q4 2018-5.1%-2.5%+0.0%
Q3 2018-4.6%-8.6%-6.9%
Q2 2018+3.1%+2.6%+2.6%
Q1 2018+1.0%+3.7%+7.4%
Q4 2017+0.3%+0.2%-1.3%
Q3 2017+2.1%+1.8%+0.6%
Q2 2017+2.4%-0.1%-7.3%
Q1 2017+1.3%+6.3%+4.5%
Q4 2016+0.0%+2.9%+10.5%
Q3 2016+0.6%+0.8%+16.8%
Q2 2016-1.1%+0.5%+1.6%
Q1 2016+8.3%
Q4 2015-7.9%
Q3 2015-8.8%
Q2 2015+3.1%
Q1 2015+2.2%
Q4 2014+1.4%
Q3 2014+1.9%
Q2 2014+3.1%
Q1 2014-1.0%
Q4 2013-3.1%
Q3 2013+0.4%
Q2 2013+1.1%
Q1 2013-3.5%
Q4 2012-1.2%
Q3 2012-1.7%
Q2 2012+0.4%
Q1 2012+0.6%
Q4 2011+0.4%
Q4 2008-5.5%
Q3 2011-5.5%
Q2 2011-4.5%
Q4 2010-4.5%
Q1 2010+0.5%
Q1 2011+0.2%
Q4 2009-1.6%
Q3 2009-2.2%
Q3 2010-2.2%
Q2 2009-1.0%
Q2 2010-1.0%

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