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

Wintrust Financial Co. (NASDAQ:WTFC) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be given a dividend of 0.45 per share by the bank on Thursday, May 23rd. This represents a $1.80 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, May 8th.

Wintrust Financial has raised its dividend payment by an average of 12.6% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Wintrust Financial has a payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Wintrust Financial to earn $10.17 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 17.7%.

Wintrust Financial Stock Down 0.2 %

Wintrust Financial stock opened at $99.01 on Friday. Wintrust Financial has a fifty-two week low of $58.12 and a fifty-two week high of $105.29. The stock has a market cap of $6.11 billion, a PE ratio of 10.24 and a beta of 1.21. The firm’s 50-day simple moving average is $98.56 and its 200 day simple moving average is $91.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.98.

Wintrust Financial (NASDAQ:WTFC) last released its quarterly earnings results on Thursday, April 18th. The bank reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.47. Wintrust Financial had a net margin of 17.86% and a return on equity of 13.09%. The business had revenue of $604.77 million for the quarter, compared to analysts’ expectations of $577.80 million. During the same period in the previous year, the company earned $2.80 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts predict that Wintrust Financial will post 10.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on WTFC. Stephens restated an “overweight” rating and set a $110.00 price target on shares of Wintrust Financial in a report on Tuesday, April 16th. StockNews.com upgraded shares of Wintrust Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Royal Bank of Canada boosted their target price on shares of Wintrust Financial from $109.00 to $116.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Truist Financial dropped their target price on shares of Wintrust Financial from $117.00 to $112.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $116.00 target price on shares of Wintrust Financial in a research note on Thursday, April 18th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $112.33.

Insider Activity at Wintrust Financial

In related news, insider Edward J. Wehmer sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $99.36, for a total transaction of $943,920.00. Following the sale, the insider now owns 177,124 shares of the company’s stock, valued at approximately $17,599,040.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Edward J. Wehmer sold 9,500 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $99.36, for a total value of $943,920.00. Following the transaction, the insider now owns 177,124 shares of the company’s stock, valued at approximately $17,599,040.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey D. Hahnfeld sold 588 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $97.88, for a total transaction of $57,553.44. Following the completion of the transaction, the executive vice president now directly owns 3,410 shares in the company, valued at approximately $333,770.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,309 shares of company stock worth $1,023,730. 1.47% of the stock is owned by corporate insiders.

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.