Jefferies Raises Price Target on Wintrust Financial (WTFC), Raises Estimates on First Chicago Acquisition

Jefferies is reiterating its Hold rating on shares of Wintrust Financial (NASDAQ: WTFC) and is raising its price target of from $35 to $37.

The firm is cutting its 2011 EPS estimate from $1.35 to $1.30 due to the Q2 miss, but is raising its 2012 and 2013 estimates from $2.30 and $3.05 to $2.40 and $3.25 to reflect the recent acquisition of First Chicago.

Overall the acquisition should add roughly $0.10 to all previous estimates. An analyst from the firm comments, "We are incorporating $26mm of interest income, $6mm in fees, and $24mm in expenses from the First Chicago acquisition, which assumes $12mm in annual cost saves."

For more ratings news on Wintrust Financial click here and for the rating history of Wintrust Financial click here.

Shares of Wintrust Financial closed at $34.06 yesterday.

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