UPDATE: Stifel Nicolaus Downgrades Wintrust Financial to Hold on Valuation
Stifel Nicolaus reduced its rating on Wintrust Financial (NASDAQ: WTFC) from Buy to Hold and suspended its previous price target of $39 a share.
Stifel Nicolaus commented, "While we believe Wintrust remains better positioned for growth than most other banks we follow in the Midwest, we do have some concern that the rate of growth may be difficult to maintain. Some indicators suggest the economy has slowed. … [W]e see only incremental operating levers to pull (outside of the securitization run-off at 3Q) to push near-term profitability up significantly."
Wintrust Financial closed at $37.41 on Friday.
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