Wintrust Financial Corp's (NASDAQ:WTFC) EVP-Controller & Chief Accounting Officer, Jeffrey D. Hahnfeld, has sold a total of $22,256 worth of company stock, according to a recent SEC filing. The transaction, which took place on April 23, involved 221 shares of common stock sold at a price of $100.71 each.
The sale by Hahnfeld has adjusted his direct ownership in the company to 1,867 shares following the transaction. The reported sale price of $100.71 per share reflects the market value of Wintrust Financial Corp's stock on the date of the transaction.
Investors often monitor insider transactions as they can provide insights into how executives and major shareholders view the company's stock value and future performance. In this case, the sale by a high-ranking executive might be of interest to current and potential shareholders.
Wintrust Financial Corp, based in Rosemont, Illinois, operates as a financial holding company, providing various banking and financial services to individuals and businesses in the United States. The company's stock is traded on the NASDAQ under the ticker symbol WTFC.
The filing was signed by Kathleen M. Boege, Attorney-in-fact, on April 24, the day following the reported transaction.
InvestingPro Insights
Wintrust Financial Corp (NASDAQ:WTFC) has been on the radar of investors following recent insider trading activity. To further inform potential investment decisions, key metrics and insights from InvestingPro are worth considering. Wintrust Financial currently holds a market capitalization of $6.18 billion, with a Price/Earnings (P/E) ratio of 10.28, suggesting that the stock is trading at a low price relative to near-term earnings growth. This is reinforced by the adjusted P/E ratio for the last twelve months as of Q1 2024, which stands at 10.29.
Additionally, the company's revenue growth for the same period was a robust 11.98%, indicative of a solid financial trajectory. Despite concerns over weak gross profit margins, as highlighted by one of the InvestingPro Tips, Wintrust Financial has shown a significant price uptick over the last six months, with a 36.34% total return, which may catch the attention of growth-focused investors.
For those interested in dividend sustainability, Wintrust Financial has not only maintained but also increased its dividend payments for 25 consecutive years, a testament to its financial stability and commitment to shareholder returns. This is an important factor for income investors, especially in a volatile market environment.
For more detailed analysis and additional InvestingPro Tips, investors can visit https://www.investing.com/pro/WTFC. There are currently 8 more tips available on InvestingPro, offering a comprehensive view of Wintrust Financial's performance and projections. For those looking to subscribe to InvestingPro, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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