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Last $53.38 USD
Change Today +0.52 / 0.98%
Volume 385.5K
WTFC On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 5:20 PM 06/30/15 All times are local (Market data is delayed by at least 15 minutes).

wintrust financial corp (WTFC) Key Developments

Wintrust Financial Corporation (NasdaqGS:WTFC) Mulls Acquisitions

Wintrust Financial Corporation (NasdaqGS:WTFC) is seeking acquisitions. Wintrust commenced an underwritten public offering of its fixed-to-floating rate Series D non-cumulative perpetual preferred stock. Wintrust intends to use the net proceeds from the offering for general corporate purposes, which may include, investments at the holding company level, providing capital to support the Company’s growth, acquisitions or other business combinations, including FDIC-assisted acquisitions and reducing or refinancing existing debt.

Wintrust Financial Corporation Announces the Resignation of Lisa J. Pattis as Executive Vice President, General Counsel and Corporate Secretary

On June 2, 2015, Wintrust Financial Corporation announced that Lisa J. Pattis, Executive Vice President, General Counsel and Corporate Secretary of the Company, is leaving the Company to join Next Chapter Holdings LP, as its President and Chair of its Executive Committee. Ms. Pattis has agreed to continue in her current role with the Company during a transition period and assist with the hiring of her successor.

Wintrust Financial Corporation Announces Quarterly Cash Dividend, Payable on May 21, 2015

Wintrust Financial Corporation announced that the Company's Board of Directors approved a quarterly cash dividend of $0.11 per share of outstanding common stock. The dividend is payable on May 21, 2015 to shareholders of record as of May 7, 2015. As previously announced, subject to ongoing Board of Director approval, future dividend payments will be made on a quarterly basis.

Wintrust Financial Corporation Expands Leasing Operations with Wintrust Commercial Finance

Wintrust Financial Corporation has expanded its lease and equipment finance operation capability with the addition of Wintrust Commercial Finance, an equipment-focused financing group located in Texas. The group will provide highly sophisticated loan and lease products to commercial companies in a variety of industries throughout the US and Canada.

Wintrust Financial Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Announces Net Charge-Offs for the First Quarter Ended March 31, 2015

Wintrust Financial Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, net interest income was $151,891,000 compared to $144,006,000 a year ago, due to: an average loans, excluding covered loans, for the first quarter of 2015 increased by $1.8 billion compared to the first quarter of 2014. The growth in average loans, excluding covered loans, was partially offset by a 21 basis point decline in the yield on earning assets, resulting in an increase in total interest income of $9.0 million in the first quarter of 2015 compared to the prior year quarter. An increase in interest bearing deposits, the issuance of subordinated notes at the end of the second quarter of 2014 and the completion of the Canadian secured borrowing transaction at the end of the fourth quarter of 2014 was partially offset by a more favorable funding mix, resulting in a $1.1 million increase in interest expense. Income before taxes was $63,035,000 compared to $56,340,000 a year ago. Net income was $39,052,000 compared to $34,500,000 a year ago. Net income applicable to common shares was $37,471,000 or $0.76 per diluted share compared to $32,919,000 or $0.68 diluted per share a year ago. The current quarter was highlighted by strong loan and deposit growth, strong mortgage banking results, relatively stable net interest margin and credit quality metrics and the acquisition of Delavan Bancshares. Net revenue was $216,432,000 compared to $189,535,000 a year ago. Return on average assets was 0.80% compared to 0.78% a year ago. Return on average common equity was 7.64% compared to 7.43% a year ago. Book value per common share was $42.30 compared to $39.21 a year ago. The company's net charge-offs totaled $3.1 million in the first quarter of 2015.

 

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Industry Analysis

WTFC

Industry Average

Valuation WTFC Industry Range
Price/Earnings 18.0x
Price/Sales 3.1x
Price/Book 1.2x
Price/Cash Flow 16.2x
TEV/Sales 0.4x
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