ROSEMONT, IL—David A. Dykstra, Vice Chairman and Chief Operating Officer of Wintrust Financial Corp (NASDAQ:WTFC), recently sold 15,492 shares of the company's common stock. The shares were sold at a weighted average price of $115.48 each, amounting to a total transaction value of approximately $1.79 million.
Following this transaction, Dykstra holds 197,591 shares of Wintrust Financial. The shares were sold in multiple transactions at prices ranging from $115.07 to $116.18. Dykstra has committed to providing full details of these transactions to the SEC, the issuer, and any security holder upon request.
In other recent news, Wintrust Financial Corporation posted a robust Q3 performance, reporting a net income exceeding $170 million. The acquisition of Macatawa Bank on August 1 played a significant role in the company's growth, contributing to a $1.3 billion increase in loans and $2.3 billion in deposits. This acquisition also helped Wintrust achieve a record net interest income of $503 million. Despite a decrease in noninterest income to $113.1 million due to less favorable mortgage-related revenues, the company remains optimistic about future growth. Analysts from Wintrust project a continued increase in loans and deposits, with a positive valuation adjustment anticipated in the fourth quarter. While noninterest expenses rose to $360.7 million, mainly due to acquisition-related costs, these are expected to improve as a percentage of average assets. The company's resilience and strategic growth following the Macatawa Bank acquisition, coupled with its steady net interest margin and record net interest income, point to continued success.
InvestingPro Insights
As David A. Dykstra reduces his stake in Wintrust Financial Corp (NASDAQ:WTFC), investors might be interested in the company's current financial position and market performance. According to InvestingPro data, Wintrust Financial has a market capitalization of $7.68 billion and is trading at a price-to-earnings ratio of 11.97, suggesting a relatively attractive valuation compared to industry peers.
The company's stock has shown impressive performance, with a one-year price total return of 62.25% as of the most recent data. This aligns with an InvestingPro Tip indicating that Wintrust has delivered a high return over the last year. Additionally, the stock is currently trading near its 52-week high, with the price at 98.25% of its highest point in the past year.
Wintrust Financial's commitment to shareholder returns is evident in its dividend history. An InvestingPro Tip highlights that the company has raised its dividend for 11 consecutive years and has maintained dividend payments for 25 consecutive years. The current dividend yield stands at 1.55%, with a notable dividend growth of 12.5% over the last twelve months.
For investors seeking more comprehensive analysis, InvestingPro offers additional insights, with 7 more tips available for Wintrust Financial. These tips could provide valuable context for understanding the recent insider selling activity and the company's overall financial health.
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