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

Wintrust Financial Co. (NASDAQ:WTFC) declared a quarterly dividend on Thursday, July 25th, NASDAQ reports. Shareholders of record on Thursday, August 8th will be given a dividend of 0.45 per share by the bank on Thursday, August 22nd. This represents a $1.80 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, August 8th.

Wintrust Financial has increased 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 17.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Wintrust Financial to earn $10.20 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 17.6%.

Wintrust Financial Price Performance

Shares of WTFC stock traded up $1.26 during trading hours on Friday, hitting $110.13. The company’s stock had a trading volume of 402,586 shares, compared to its average volume of 384,313. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average of $98.97 and a 200-day moving average of $98.27. Wintrust Financial has a twelve month low of $71.86 and a twelve month high of $113.68. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of 11.40 and a beta of 1.18.

Wintrust Financial (NASDAQ:WTFC) last announced its earnings results on Wednesday, July 17th. The bank reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.10). The company had revenue of $591.76 million for the quarter, compared to analyst estimates of $587.33 million. Wintrust Financial had a net margin of 17.02% and a return on equity of 12.71%. Wintrust Financial’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.38 EPS. As a group, equities research analysts anticipate that Wintrust Financial will post 10.11 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on WTFC. Citigroup cut their target price on shares of Wintrust Financial from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Piper Sandler upped their price objective on shares of Wintrust Financial from $113.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Truist Financial increased their price target on Wintrust Financial from $107.00 to $118.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com upgraded Wintrust Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Finally, DA Davidson raised their price target on Wintrust Financial from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.85.

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.