Indicators from Technical Perspective: Wintrust Financial Corporation (NASDAQ:WTFC)

Shares of Wintrust Financial Corporation (NASDAQ:WTFC) closed the trading at a price of $70.05 with the positive/negative change of -2.83%. In the past session approximately 458,525 shares were exchanged against the average daily trading volume of 370,316 shares. The stock touched to the maximum level of $72.27, and it reached the lower level of $69.89 in past session.

Wintrust Financial Corporation (WTFC) reported net income of $81.5M or $1.38 per diluted ordinary share for the second quarter of 2k19, a decrease in diluted earnings per ordinary share of 9.2% contrast to the previous quarter and 9.8% contrast to the second quarter of 2k18. The Company recorded net income of $170.6M or $2.91 per diluted ordinary share for the first six months of 2k19 contrast to net income of $171.6M or $2.93 per diluted ordinary share for the same period of 2k18.

Highlights of the Second Quarter of 2k19:
Comparative information to the first quarter of 2k19

• Total assets raised by $1.3B, including $220M from the acquisition of Rush-Oak Corporation ("ROC"), the parent company of Oak Bank (the "Oak Bank Acquisition"), or 16% on an annualized basis.


• Total loans raised by $1.1B, including $114M from the Oak Bank Acquisition, or 18% on an annualized basis.


• Total deposits raised by $714M, including $158M from the Oak Bank Acquisition, or 11% on an annualized basis.


• Net interest income raised by $4.2M as the impact of a $797M raise in average earning assets was partially offset by an eight basis point decline in net interest margin.


• Mortgage banking production revenue raised by $13.3M as mortgage origination's for sale totaled $1.2B in the second quarter of 2k19 as contrast to $678M in the first quarter of 2k19.

Other highlights of the second quarter of 2k19

• Total period end loans were $751M higher than average total loans in the current quarter.


• Recorded the following activity related to mortgage servicing rights:
  
  
  
  • Current period capitalization of $9.8M;
  
  
  • Reduction in value related to payoffs and pay-downs of $4.1M; and
  
  
  • Reduction in value related to changes in fair value model assumptions, net of derivative contract activity held as an economic hedge, of $3.4M.
  
  
  
  


• Recognized $24.6M of provision for credit losses and $22.3M of net charge-offs, of which $15.2M of provision for credit losses and $18.4M of net charge-offs related to three credits.


• Completed a subordinated debt issuance which generated proceeds of $297.5M, net of the underwriting discount, and contributed to raise the total capital ratio to about 12.3%.


• Opened a new branch in Waukegan, Illinois, as well as completed the Oak Bank Acquisition, with one branch in the city of Chicago.


• Reported an contract to acquire STC Bancshares Corp., the parent company of STC Capital Bank, which is predictable to close in the third quarter of 2k19.

Turning to the future, Mr. Wehmer stated, “We have experienced important franchise growth in the first two quarters of 2k19 and believe that our opportunities for both internal and external growth remain consistently strong. Total period-end loans exceeded total average loans by $751M in the current quarter, providing momentum for an raise in net interest income in the third quarter of 2k19 despite market conditions that are applying pressure to the net interest margin. We plan to continue to emphasize core deposit growth and we will remain diligent in monitoring the interest rate environment to ensure that we react quickly in adjusting deposit pricing in the event of further interest rate reductions. We plan to continue in our steady and measured approach to achieve our main objectives of growing franchise value, increasing profitability, leveraging our expense infrastructure and continuing to raise shareholder value.  Evaluating planned acquisitions, like the Oak Bank Acquisition and the reported acquisition of STC Bancshares Corp., and organic branch growth will continue to be a part of our overall growth strategy with the goal of becoming Chicago’s bank and Wisconsin’s bank."

The company plunged -1.59% in past week and declined -2.48% in one month. During the past three month period the stock dropped -6.76% and decreased -0.86% in past six month. Return on assets ratio of the Company was 1.10% and return on equity ratio was 11.00% while its return on investment ratio was 20.70%.