Wintrust Financial Co. (NASDAQ:WTFC) Declares $0.45 Quarterly Dividend

Wintrust Financial Co. (NASDAQ:WTFC) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Thursday, November 7th will be given a dividend of 0.45 per share by the bank on Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 7th.

Wintrust Financial has raised its dividend by an average of 12.6% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Wintrust Financial has a dividend payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wintrust Financial to earn $10.26 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 17.5%.

Wintrust Financial Stock Up 1.6 %

Shares of NASDAQ WTFC opened at $115.15 on Wednesday. The stock has a market capitalization of $7.66 billion, a P/E ratio of 12.06 and a beta of 1.15. The company has a 50-day moving average price of $109.30 and a 200-day moving average price of $103.31. Wintrust Financial has a 1 year low of $76.67 and a 1 year high of $118.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 1.01.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings data on Monday, October 21st. The bank reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.03). The business had revenue of $615.73 million for the quarter, compared to analyst estimates of $623.45 million. Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 earnings per share. On average, equities research analysts forecast that Wintrust Financial will post 10.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Raymond James lifted their price objective on shares of Wintrust Financial from $125.00 to $135.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $130.00 price target on shares of Wintrust Financial in a report on Tuesday, October 22nd. Stephens restated an “overweight” rating and set a $115.00 price target on shares of Wintrust Financial in a report on Thursday, July 18th. Citigroup boosted their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Truist Financial boosted their price target on shares of Wintrust Financial from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Activity at Wintrust Financial

In related news, CFO David L. Stoehr sold 1,607 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $113.46, for a total transaction of $182,330.22. Following the completion of the transaction, the chief financial officer now owns 14,874 shares of the company’s stock, valued at approximately $1,687,604.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wintrust Financial news, CFO David L. Stoehr sold 1,607 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $113.46, for a total value of $182,330.22. Following the completion of the transaction, the chief financial officer now owns 14,874 shares of the company’s stock, valued at $1,687,604.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David A. Dykstra sold 15,492 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $115.48, for a total transaction of $1,789,016.16. Following the completion of the transaction, the chief operating officer now directly owns 197,591 shares of the company’s stock, valued at approximately $22,817,808.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,198 shares of company stock valued at $2,445,314. Corporate insiders own 1.47% of the company’s stock.

About Wintrust Financial

Wintrust Financial Corporation operates as a financial holding company. It operates in three segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), online and mobile banking, and other services.