Wintrust Financial Reports Q3 Beat

Wintrust Financial Corporation (NASDAQ:WTFC) reported its Q3 results, with EPS of $2.21 coming in better than the Street estimate of $2.03. Revenue was $502.93 million, beating the Street estimate of $498.02 million.

RBC Capital analysts raised their price target on the company’s shares to $115 from $109, noting that the quarterly trends were strong and led by continued momentum in loan activity and impressive margin expansion, both of which supported strength in spread revenues. Meanwhile, fee revenues were slightly lower, while expenses were modestly higher.

The analysts believe the outlook remains positive and driven by continued momentum in spread revenues given the favorable rate environment and loan growth expectations.