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

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

Wintrust Financial has raised its dividend payment by an average of 12.6% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Wintrust Financial has a payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Equities 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 company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73. Wintrust Financial has a 12 month low of $76.67 and a 12 month high of $118.69. The firm has a market capitalization of $7.66 billion, a PE ratio of 12.06 and a beta of 1.15. The firm has a fifty day simple moving average of $109.30 and a two-hundred day simple moving average of $103.31.

Wintrust Financial (NASDAQ:WTFC) last issued its quarterly earnings data on Monday, October 21st. The bank reported $2.47 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.03). The company had revenue of $615.73 million during the quarter, compared to the consensus estimate of $623.45 million. Wintrust Financial had a return on equity of 11.99% and a net margin of 16.52%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.53 earnings per share. Equities analysts expect that Wintrust Financial will post 10.12 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on WTFC. Truist Financial increased their price objective 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. Keefe, Bruyette & Woods downgraded shares of Wintrust Financial from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $110.00 to $115.00 in a research report on Friday, July 19th. DA Davidson increased their price objective on shares of Wintrust Financial from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on shares of Wintrust Financial from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Finally, Citigroup raised their price target on shares of Wintrust Financial from $126.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wintrust Financial presently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Insider Transactions at Wintrust Financial

In other news, CFO David L. Stoehr sold 1,607 shares of the 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 transaction, the chief financial officer now owns 14,874 shares in the company, valued at $1,687,604.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Wintrust Financial news, CFO David L. Stoehr sold 1,607 shares of the firm’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 sale, the chief financial officer now owns 14,874 shares in the company, valued at approximately $1,687,604.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard B. Murphy sold 4,099 shares of Wintrust Financial stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $115.63, for a total transaction of $473,967.37. Following the transaction, the insider now directly owns 42,311 shares in the company, valued at $4,892,420.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,198 shares of company stock worth $2,445,314 in the last quarter. Company insiders own 1.47% of the company’s stock.

Wintrust Financial Company Profile

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.