Wintrust Financial (WTFC) PT Raised to $135 at Citi

Citi analyst Benjamin Gerlinger raised the price target on Wintrust Financial (NASDAQ: WTFC) to $135.00 (from $126.00) while maintaining a Buy rating.

The analyst comments "In our view, results this quarter continue to underscore our thesis of WTFC being a solid growth bank that consistently produces healthy PPNR trends – which ultimately generates an above-peer TBV compounding effect. We continue to assume a near 10% growth outlook for the next 12 months with minimal NIM compression in 2025. Additionally, WTFC is well positioned to see improved fee income trends (via mortgage operations) in a lower interest rate environment. Relative to peer banks, we continue to see shares offering a favorable risk/reward entry point; largely driven by the loan growth potential today and a likely fee income revenue ramp for when rate cuts materialize further in 2025. Increased TP to $135 (+$9) and reiterate our Buy rating."

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