ROSEMONT, Ill. - Wintrust Financial Corporation (NASDAQ:WTFC), a diversified financial services company with a market capitalization of $8.82 billion, has announced an increase in its quarterly cash dividend. The company’s Board of Directors has approved a dividend of $0.50 per share on its common stock, marking an 11.1% rise from the previous quarterly dividend of $0.45. According to InvestingPro data, this continues Wintrust’s impressive 11-year streak of dividend increases, with the current yield at 1.35%. Shareholders of record as of February 6, 2025, will be eligible for the dividend, payable on February 20, 2025.
In addition to the common stock dividend, Wintrust’s Board has also declared dividends on its preferred stock. Holders of the 6.50% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, and the 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, will receive their dividends on April 15, 2025, with records set on April 1, 2025.
Wintrust, headquartered in Illinois, operates as a financial holding company with assets around $64.9 billion. The company trades on the Nasdaq Global Select Market and emphasizes a combination of advanced banking technology and personalized community banking services. With over 200 banking locations in the Chicago and southern Wisconsin areas, Wintrust runs fifteen community bank subsidiaries and a variety of non-bank business units. These units provide services ranging from commercial and life insurance premium financing to wealth management and residential mortgage origination. The company has demonstrated strong financial performance, with revenue growing 8.88% and maintaining a healthy P/E ratio of 12.72. InvestingPro analysis reveals additional insights about Wintrust’s financial health, with analysts recently revising earnings estimates upward for the upcoming period. For detailed metrics and comprehensive analysis, investors can access the full Pro Research Report, available for over 1,400 US stocks.
The press release also contains forward-looking statements regarding Wintrust’s financial results and plans, cautioning that actual outcomes may vary due to numerous risk factors and uncertainties. For detailed information on these risks, interested parties are directed to Wintrust’s Annual Report on Form 10-K and subsequent SEC filings. Despite these uncertainties, Wintrust has demonstrated strong momentum with a 38.63% total return over the past year, though current analysis suggests the stock is trading above its Fair Value.
The information disclosed in this article is based on a press release statement from Wintrust Financial Corporation.
In other recent news, Wintrust Financial has been in the spotlight due to a series of significant developments. The company reported a robust Q3 performance, with a net income exceeding $170 million, meeting expectations. This was notably fueled by the acquisition of Macatawa Bank, which added $1.3 billion in loans and $2.3 billion in deposits, resulting in a record net interest income of $503 million for Wintrust.
In addition to these earnings and revenue highlights, Wintrust has made changes to its credit agreement. The company extended its maturity date and appointed U.S. Bank National Association as its new administrative agent following the resignation of Wells Fargo (NYSE:WFC). The Revolving Credit Maturity Date has now been extended to December 2025.
In the analysts’ world, Piper Sandler raised Wintrust Financial’s price target to $156, while Citi increased its price target to $158, both maintaining positive ratings on the stock. Truist Securities also began coverage on Wintrust Financial shares, issuing a Buy rating and a price target set at $151.00. These revisions and new coverage reflect confidence in Wintrust Financial’s financial strategy and market position.
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