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ROSEMONT, IL—Jeffrey D. Hahnfeld, Executive Vice President and Chief Accounting Officer at Wintrust Financial Corp (NASDAQ:WTFC), an $8.86 billion market cap financial services company trading at a P/E ratio of 12.65, recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Hahnfeld sold 416 shares of common stock on January 28 at a price of $130.95 per share, amounting to a total transaction value of $54,475. According to InvestingPro analysis, the stock is currently trading below its Fair Value.
Following this sale, Hahnfeld retains ownership of 2,276 shares in the company. The transaction was reported on January 29, with Kathleen M. Boege signing the document as attorney-in-fact. The stock has demonstrated strong performance, delivering a 34.21% return over the past year.
Wintrust Financial Corp, headquartered in Rosemont, Illinois, operates as a financial services company, providing a range of banking and related financial services. The company has maintained dividend payments for 26 consecutive years and recently increased its dividend by 25%. InvestingPro subscribers can access detailed analysis and 7 additional key insights about WTFC’s financial health and growth prospects.
In other recent news, Wintrust Financial Corporation reported a net income exceeding $170 million in Q3, meeting expectations. The acquisition of Macatawa Bank significantly contributed to this result, adding $1.3 billion in loans and $2.3 billion in deposits, leading to a record net interest income of $503 million for Wintrust. The company also amended its credit agreement, extending its maturity date and appointing U.S. Bank National Association as its new administrative agent.
Analysts from various firms have expressed their confidence in Wintrust. Truist Securities initiated coverage with a Buy rating and a price target of $151. Piper Sandler and Citi also raised their price targets to $156 and $158 respectively, maintaining positive ratings. These adjustments reflect a positive outlook on Wintrust’s financial strategy and market position.
Wintrust also announced an increase in its quarterly cash dividend to $0.50 per share, marking an 11.1% rise from the previous quarterly dividend. This continues Wintrust’s impressive 11-year streak of dividend increases, demonstrating strong financial stability. These are recent developments that have put Wintrust in the spotlight.
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