Wintrust Financial Corporation (NASDAQ:WTFC) Declares $0.55 Quarterly Dividend

Key Points

• Wintrust Financial declared a quarterly dividend of $0.55 per share, payable on August 20 to shareholders of record on August 6. The dividend implies an annualized yield of about 1.4%.
• The bank has a strong dividend track record, having increased its payout for 12 straight years, with a low 19.6% payout ratio that suggests the dividend is well covered by earnings.
• Wintrust also reported solid quarterly results, posting $3.30 EPS versus the $3.15 consensus and revenue of $738.63 million, both above expectations. Revenue rose 10.1% year over year.

Wintrust Financial Corporation (NASDAQ:WTFC - Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Thursday, August 6th will be given a dividend of 0.55 per share by the bank on Thursday, August 20th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, August 6th.

Wintrust Financial has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. Wintrust Financial has a dividend payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Wintrust Financial to earn $13.79 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 16.0%.

Wintrust Financial Stock Performance

Shares of Wintrust Financial stock opened at $157.77 on Friday. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 12.67 and a beta of 0.84. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.62. Wintrust Financial has a twelve month low of $119.61 and a twelve month high of $167.21. The company's fifty day moving average is $156.16 and its 200 day moving average is $149.43.

Wintrust Financial (NASDAQ:WTFC - Get Free Report) last announced its earnings results on Monday, July 20th. The bank reported $3.30 EPS for the quarter, topping the consensus estimate of $3.15 by $0.15. The firm had revenue of $738.63 million for the quarter, compared to the consensus estimate of $735.36 million. Wintrust Financial had a return on equity of 13.37% and a net margin of 20.72%.The business's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.78 EPS. Sell-side analysts forecast that Wintrust Financial will post 13.03 EPS for the current year.

Insider Buying and Selling at Wintrust Financial

In related news, Director Suzet M. Mckinney sold 500 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $148.96, for a total transaction of $74,480.00. Following the transaction, the director directly owned 3,303 shares of the company's stock, valued at $492,014.88. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David A. Dykstra sold 9,579 shares of the firm's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $148.82, for a total transaction of $1,425,546.78. Following the completion of the sale, the chief operating officer owned 179,810 shares of the company's stock, valued at $26,759,324.20. The trade was a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.24% of the company's stock.

Hedge Funds Weigh In On Wintrust Financial

Several institutional investors have recently made changes to their positions in WTFC. F m Investments LLC lifted its position in Wintrust Financial by 61.6% in the 4th quarter. F m Investments LLC now owns 70,857 shares of the bank's stock valued at $9,907,000 after acquiring an additional 27,013 shares in the last quarter. Artemis Investment Management LLP bought a new stake in Wintrust Financial during the 4th quarter worth approximately $59,287,000. Westfield Capital Management Co. LP raised its stake in shares of Wintrust Financial by 22.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 559,762 shares of the bank's stock worth $78,266,000 after purchasing an additional 102,798 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Wintrust Financial by 132.1% in the fourth quarter. SG Americas Securities LLC now owns 51,637 shares of the bank's stock worth $7,220,000 after purchasing an additional 29,386 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in shares of Wintrust Financial by 79.8% in the fourth quarter. Horizon Investments LLC now owns 33,287 shares of the bank's stock valued at $4,654,000 after purchasing an additional 14,776 shares in the last quarter. Institutional investors and hedge funds own 93.48% of the company's stock.

About Wintrust Financial

Wintrust Financial Corporation is a Chicago‐area bank holding company headquartered in Rosemont, Illinois. Through its primary subsidiary, Wintrust Bank, the company operates a network of community banks serving metropolitan Chicago and select markets in southeastern Wisconsin. These locally branded banks provide personalized commercial and consumer banking solutions tailored to small and mid‐size businesses, professionals, and individual clients.

The firm's core offerings include deposit products, commercial and residential lending, treasury management, and mortgage banking services.

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