Truist raised the firm’s price target on Wintrust Financial to $117 from $111 and keeps a Buy rating on the shares. The analyst adjusted bank price targets and estimates to reflect the firm’s updated interest rate forward curve assumption of 75 basis points of rate cuts in 2024 and 2025, and reduced downward deposit betas. Truist adjusted its rate outlook and now forecasts three 25 point cuts in 2024, beginning in June, followed by three more 25 point cuts in 2025. Deposit competition remains intense and liquidity continues to be at top priority, the analyst tells investors in a research note.
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Read More on WTFC:
- Wintrust Wins Highest Ranking by J.D. Power for Illinois Retail Banking Customer Satisfaction for the Third Year in a Row
- Wintrust Financial Corporation Announces First Quarter 2024 Earnings Release Schedule
- Wintrust Financial price target raised to $115 from $114 at Citi
- Wintrust Financial price target raised to $114 from $112 at Citi
- Wintrust Financial initiated with an Overweight at Barclays
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