Markets

Pick Up This Bargain Even Cheaper Than Director Sweeney Did

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on July 23, Wintrust Financial Corp 's Director, Gary D. Sweeney, invested $35,058.10 into 785 shares of WTFC, for a cost per share of $44.66. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Wednesday, bargain hunters could buy shares of Wintrust Financial Corp (Symbol: WTFC) and achieve a cost basis even cheaper than Sweeney, with shares changing hands as low as $44.27 per share. It should be noted that Sweeney has collected $0.28/share in dividends since the time of their purchase, so they are currently down 0.2% on their purchase from a total return basis. Wintrust Financial Corp shares are currently trading off about 2.5% on the day. The chart below shows the one year performance of WTFC shares, versus its 200 day moving average:

Wintrust Financial Corp  Chart

Looking at the chart above, WTFC's low point in its 52 week range is $22.0215 per share, with $71.95 as the 52 week high point — that compares with a last trade of $44.51. By comparison, below is a table showing the prices at which WTFC insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
06/03/2020 Karin Gustafson Teglia Director 1,000 $44.77 $44,770.00
06/05/2020 Karin Gustafson Teglia Director 1,000 $51.10 $51,100.00
07/23/2020 Gary D. Sweeney Director 785 $44.66 $35,058.10

The current annualized dividend paid by Wintrust Financial Corp is $1.12/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 08/05/2020. Below is a long-term dividend history chart for WTFC, which can be of good help in judging whether the most recent dividend with approx. 2.5% annualized yield is likely to continue.

WTFC+Dividend+History+Chart

Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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