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Wintrust Financial's CFO David Stoehr sells shares worth $182,330

Published 25/10/2024, 21:08
WTFC
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David L. Stoehr, the Chief Financial Officer of Wintrust Financial Corp (NASDAQ:WTFC), recently sold 1,607 shares of the company's common stock. The shares were sold on October 24 at a weighted average price of $113.46, amounting to a total transaction value of approximately $182,330. Following this sale, Stoehr retains direct ownership of 14,874 shares in the company. The shares were sold in multiple transactions at prices ranging from $113.45 to $113.50.

In other recent news, Wintrust Financial Corporation reported a stable Q3 performance, posting a net income of over $170 million. The company's growth was significantly bolstered by the acquisition of Macatawa Bank, resulting in a $1.3 billion increase in loans and $2.3 billion in deposits. This contributed to a record net interest income of $503 million for the company. Despite a decrease in noninterest income to $113.1 million and an increase in noninterest expenses to $360.7 million, mainly due to the acquisition, Wintrust remains positive about its future growth. The company anticipates a positive valuation adjustment in Q4 due to rising mortgage rates and expects continued growth in loans and deposits. These recent developments indicate a solid performance for the remainder of 2024 and into 2025.

InvestingPro Insights

While David L. Stoehr's recent sale of Wintrust Financial Corp (NASDAQ:WTFC) shares may raise eyebrows, a deeper look at the company's financial metrics and market performance reveals a more nuanced picture.

According to InvestingPro data, Wintrust Financial Corp has a market capitalization of $7.5 billion and a price-to-earnings ratio of 11.63, suggesting the stock may be reasonably valued compared to its earnings. The company's revenue growth of 5.77% over the last twelve months and 6.93% in the most recent quarter indicates steady expansion.

Notably, Wintrust has demonstrated a strong commitment to shareholder returns. An InvestingPro Tip highlights that the company has raised its dividend for 10 consecutive years, with a current dividend yield of 1.58%. This consistent dividend growth, coupled with a 12.5% increase in the past year, underscores the company's financial health and dedication to rewarding investors.

Furthermore, Wintrust's stock has shown impressive performance, with a one-year price total return of 59.47%. This substantial gain suggests that despite the CFO's recent sale, the market maintains a positive outlook on the company's prospects.

It's worth noting that InvestingPro offers additional insights, with 6 more tips available for Wintrust Financial Corp. These tips could provide further context to the company's financial position and future outlook, potentially helping investors make more informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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