DA Davidson Upgrades TCF Financial Corporation (TCF) to “Buy”

DA Davidson upgraded shares of TCF Financial Corporation (NYSE:TCF) from a neutral rating to a buy rating in a report released on Tuesday morning. DA Davidson also issued estimates for TCF Financial Corporation’s Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.22 EPS, Q1 2018 earnings at $0.34 EPS, Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.48 EPS and FY2019 earnings at $1.62 EPS.

A number of other research analysts have also recently commented on TCF. Morgan Stanley reaffirmed an equal weight rating and set a $17.00 price target (up previously from $16.50) on shares of TCF Financial Corporation in a research report on Friday, July 7th. Deutsche Bank AG reaffirmed a hold rating and set a $17.00 price target (down previously from $18.00) on shares of TCF Financial Corporation in a research report on Tuesday, July 25th. Zacks Investment Research cut TCF Financial Corporation from a buy rating to a hold rating in a research report on Thursday, July 27th. JMP Securities started coverage on TCF Financial Corporation in a research report on Thursday, August 31st. They set a market perform rating on the stock. Finally, BMO Capital Markets reaffirmed a hold rating and set a $18.00 price target on shares of TCF Financial Corporation in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $18.00.

TCF Financial Corporation (NYSE:TCF) opened at $18.64 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.59. The stock has a market cap of $3,178.93, a P/E ratio of 16.23, a PEG ratio of 1.84 and a beta of 1.25.

TCF Financial Corporation (NYSE:TCF) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). TCF Financial Corporation had a net margin of 15.27% and a return on equity of 9.63%. The firm had revenue of $343.30 million for the quarter, compared to analysts’ expectations of $340.45 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. analysts forecast that TCF Financial Corporation will post 1.22 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a dividend of $0.075 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.61%. TCF Financial Corporation’s dividend payout ratio (DPR) is 26.32%.

In related news, Director Barry N. Winslow acquired 12,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average price of $25.00 per share, with a total value of $300,000.00. Following the acquisition, the director now owns 2,365 shares of the company’s stock, valued at approximately $59,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

About TCF Financial Corporation

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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