Wintrust Financial Co. (NASDAQ:WTFC) Plans Quarterly Dividend of $0.50

Wintrust Financial Co. (NASDAQ:WTFC) announced a quarterly dividend on Tuesday, April 1st, RTT News reports. Shareholders of record on Thursday, May 8th will be given a dividend of 0.50 per share by the bank on Thursday, May 22nd. This represents a $2.00 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, May 8th.

Wintrust Financial has raised its dividend by an average of 13.2% 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 17.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wintrust Financial to earn $10.87 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 18.4%.

Wintrust Financial Stock Down 0.6 %

NASDAQ WTFC opened at $115.16 on Tuesday. Wintrust Financial has a twelve month low of $89.10 and a twelve month high of $142.04. The stock has a market cap of $7.71 billion, a PE ratio of 11.17 and a beta of 0.81. The firm has a 50-day simple moving average of $109.30 and a 200 day simple moving average of $121.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.01.

Wintrust Financial (NASDAQ:WTFC) last posted its quarterly earnings results on Monday, April 21st. The bank reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.17. The firm had revenue of $643.11 million for the quarter, compared to the consensus estimate of $643.11 million. Wintrust Financial had a net margin of 17.52% and a return on equity of 12.60%. During the same quarter in the previous year, the company earned $2.89 earnings per share. On average, research analysts forecast that Wintrust Financial will post 10.36 EPS for the current year.

Wall Street Analysts Forecast Growth

WTFC has been the subject of several analyst reports. Hovde Group raised their target price on Wintrust Financial from $107.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 23rd. DA Davidson lowered their target price on shares of Wintrust Financial from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Truist Financial cut their price target on shares of Wintrust Financial from $150.00 to $137.00 and set a “buy” rating for the company in a report on Friday, April 25th. Royal Bank of Canada decreased their price objective on shares of Wintrust Financial from $152.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays boosted their target price on Wintrust Financial from $138.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.54.

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.