Key Points
- Insider sale: Richard Murphy sold 7,136 Wintrust Financial shares for approximately $1.06 million, reducing his ownership by 19.16% to 30,107 shares.
- Solid quarterly results: Wintrust reported earnings of $3.37 per share, beating estimates by $0.06, while revenue rose 8.6% year over year to $757.88 million.
- Investor outlook remains favorable: The company declared a quarterly dividend of $0.55 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of $175.
Wintrust Financial Corporation (NASDAQ:WTFC - Get Free Report) insider Richard Murphy sold 7,136 shares of the company's stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $148.66, for a total transaction of $1,060,837.76. Following the completion of the transaction, the insider owned 30,107 shares of the company's stock, valued at $4,475,706.62. This trade represents a 19.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Wintrust Financial Trading Up 0.7%
NASDAQ WTFC opened at $150.77 on Friday. The stock's 50-day simple moving average is $148.46 and its two-hundred day simple moving average is $152.41. Wintrust Financial Corporation has a twelve month low of $122.00 and a twelve month high of $167.21. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.18 and a beta of 0.89.
Wintrust Financial (NASDAQ:WTFC - Get Free Report) last issued its quarterly earnings results on Monday, October 19th. The bank reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.06. Wintrust Financial had a return on equity of 13.31% and a net margin of 21.03%. The firm had revenue of $757.88 million during the quarter, compared to analyst estimates of $754.54 million. During the same quarter in the previous year, the company posted $3.06 earnings per share. The company's revenue was up 8.6% compared to the same quarter last year. Research analysts forecast that Wintrust Financial Corporation will post 13.27 EPS for the current fiscal year.
Wintrust Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, November 5th. Wintrust Financial's dividend payout ratio (DPR) is currently 16.87%.
Wall Street Analyst Weigh In
WTFC has been the subject of several research reports. TD Cowen upped their target price on Wintrust Financial from $173.00 to $174.00 and gave the stock a "buy" rating in a research note on Wednesday. Brean Capital lowered shares of Wintrust Financial from a "buy" rating to a "neutral" rating and set a $170.00 price objective for the company. in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft began coverage on shares of Wintrust Financial in a report on Monday, October 12th. They issued a "buy" rating and a $175.00 price objective for the company. UBS Group reaffirmed a "neutral" rating and issued a $170.00 price objective on shares of Wintrust Financial in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company started coverage on shares of Wintrust Financial in a report on Thursday, September 24th. They set an "equal weight" rating and a $160.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.00.
View Our Latest Research Report on WTFC
Institutional Investors Weigh In On Wintrust Financial
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Wintrust Financial during the 2nd quarter worth approximately $1,058,088,000. First Trust Advisors LP increased its stake in Wintrust Financial by 26.6% in the 1st quarter. First Trust Advisors LP now owns 1,830,268 shares of the bank's stock worth $254,297,000 after purchasing an additional 385,069 shares during the period. Bank of America Corp DE bought a new stake in Wintrust Financial in the second quarter valued at approximately $168,021,000. Bank of New York Mellon Corp lifted its position in Wintrust Financial by 13.2% in the first quarter. Bank of New York Mellon Corp now owns 595,830 shares of the bank's stock valued at $82,785,000 after purchasing an additional 69,444 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new stake in shares of Wintrust Financial during the second quarter valued at approximately $92,734,000. Institutional investors own 93.48% of the company's stock.
Wintrust Financial Company Profile
(
Get Free Report)
Wintrust Financial Corporation (NASDAQ: WTFC) is a financial holding company headquartered in Rosemont, Illinois. Through its network of community banking subsidiaries, the company provides banking and financial services to individuals, families, businesses and institutions.
Its offerings include checking and savings accounts, commercial and consumer lending, residential mortgages, treasury management, cash management and other deposit services. Wintrust also provides wealth management, investment services, insurance-related products and specialized finance solutions, including equipment finance and premium finance.
Founded in 1991, Wintrust has built its business through a community banking model that combines local decision-making and relationship-based service with the resources of a larger financial organization.
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