Wintrust Financial Co. (WTFC) To Go Ex-Dividend on May 8th

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 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, May 8th.

Wintrust Financial has increased its dividend payment by an average of 12.6% per year over the last three years and has increased its dividend every year for the last 11 years. Wintrust Financial has a dividend payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

WTFC stock traded down $0.16 during midday trading on Friday, reaching $99.01. The company had a trading volume of 170,496 shares, compared to its average volume of 364,802. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 10.24 and a beta of 1.21. The stock has a 50 day moving average price of $98.56 and a 200-day moving average price of $91.62. Wintrust Financial has a 1-year low of $58.12 and a 1-year high of $105.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.97.

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

Insider Activity at Wintrust Financial

In other Wintrust Financial news, EVP Jeffrey D. Hahnfeld sold 588 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 3,410 shares in the company, valued at approximately $333,770.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Wintrust Financial news, EVP Jeffrey D. Hahnfeld sold 588 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 3,410 shares in the company, valued at approximately $333,770.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Wehmer sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $99.36, for a total value of $943,920.00. Following the transaction, the insider now directly owns 177,124 shares in the company, valued at $17,599,040.64. The disclosure for this sale can be found here. Insiders have sold 10,309 shares of company stock worth $1,023,730 over the last ninety days. Insiders own 1.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on WTFC shares. UBS Group boosted their target price on Wintrust Financial from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Citigroup lowered their target price on Wintrust Financial from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Truist Financial lowered their target price on Wintrust Financial from $117.00 to $112.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Wedbush restated an “outperform” rating and set a $116.00 price target on shares of Wintrust Financial in a report on Thursday, April 18th. Finally, Raymond James boosted their price target on Wintrust Financial from $95.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wintrust Financial presently has a consensus rating of “Buy” and a consensus price target of $112.33.

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.