Zacks Investment Research upgraded shares of TCF Financial Corporation (NYSE:TCF) from a sell rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “Shares of TCF Financial have underperformed the industry year to date. Also, the company’s earnings surprise history is not impressive. It missed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. The company remains affected by the consistently declining banking fees for the last few years. Further, mounting expenses primarily driven by growth in staff level remains a near-term headwind. However, increasing loans, strong deposit mix and easing margin pressure will likely to aid profitability. The company has been benefiting from improving credit quality in consumer real estate portfolio and has witnessed enhanced profitability ratios as well, which keeps us encouraged.”
Several other analysts have also weighed in on the company. JMP Securities initiated coverage on TCF Financial Corporation in a report on Thursday, August 31st. They issued a market perform rating for the company. Wedbush initiated coverage on TCF Financial Corporation in a report on Wednesday, June 28th. They issued an underperform rating and a $14.00 price objective for the company. Royal Bank Of Canada reissued a buy rating and issued a $19.00 price objective on shares of TCF Financial Corporation in a report on Friday, September 8th. Deutsche Bank AG reissued a hold rating and issued a $17.00 price objective (down from $18.00) on shares of TCF Financial Corporation in a report on Tuesday, July 25th. Finally, Morgan Stanley reissued an equal weight rating and issued a $17.00 price objective (up from $16.50) on shares of TCF Financial Corporation in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. TCF Financial Corporation has an average rating of Hold and a consensus target price of $17.00.
TCF Financial Corporation (NYSE TCF) opened at 16.98 on Tuesday. The stock’s 50 day moving average price is $16.21 and its 200 day moving average price is $16.02. TCF Financial Corporation has a 52-week low of $13.73 and a 52-week high of $20.03. The firm has a market capitalization of $2.86 billion, a PE ratio of 14.71 and a beta of 1.25.
TCF Financial Corporation (NYSE:TCF) last announced its quarterly earnings data on Monday, July 24th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The firm had revenue of $341.80 million during the quarter, compared to analyst estimates of $336.12 million. TCF Financial Corporation had a return on equity of 9.59% and a net margin of 15.13%. TCF Financial Corporation’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. Analysts expect that TCF Financial Corporation will post $1.20 earnings per share for the current year.
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In related news, Director Barry N. Winslow bought 12,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now directly owns 2,365 shares in the company, valued at approximately $59,125. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by insiders.
TCF Financial Corporation Company Profile
TCF Financial Corporation (TCF) is a bank holding company. The Company’s principal subsidiary is TCF National Bank (TCF Bank). The Company operates in three segments: Consumer Banking, Wholesale Banking and Enterprise Services. Consumer Banking comprises all of the Company’s consumer-facing businesses.
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