Zacks Investment Research Lowers TCF Financial Corporation (TCF) to Hold

Zacks Investment Research cut shares of TCF Financial Corporation (NYSE:TCF) from a buy rating to a hold rating in a report published on Thursday morning.

According to Zacks, “Shares of TCF Financial have outperformed the industry over the past six months. Yet, the company’s earnings surprise history is not impressive. It missed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Third-quarter results were affected by higher expenses and provisions, partially offset by rise in loans and deposits. TCF Financial’s revenues continue to be hurt by the consistently declining banking fees over the last few years. Also, mounting costs due to increasing staff level is expected to impact bottom line. However, increasing loans, strong deposit mix and easing margin pressure will likely to aid profitability. The company has been also benefiting from improving credit quality in consumer real estate portfolio and has witnessed enhanced profitability ratios as well, which keeps us encouraged.”

TCF has been the topic of a number of other research reports. Royal Bank Of Canada reissued a buy rating and issued a $20.00 price objective on shares of TCF Financial Corporation in a research report on Friday, October 27th. Piper Jaffray Companies set a $17.00 price objective on shares of TCF Financial Corporation and gave the stock a hold rating in a research report on Friday, October 6th. BMO Capital Markets reissued a hold rating and issued a $18.00 price objective on shares of TCF Financial Corporation in a research report on Friday, September 1st. JMP Securities initiated coverage on shares of TCF Financial Corporation in a research report on Thursday, August 31st. They issued a market perform rating on the stock. Finally, J P Morgan Chase & Co boosted their price objective on shares of TCF Financial Corporation from $18.00 to $19.00 and gave the stock a neutral rating in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. TCF Financial Corporation presently has an average rating of Hold and an average target price of $18.00.

TCF Financial Corporation (NYSE:TCF) traded up $0.14 during trading on Thursday, hitting $18.64. 990,164 shares of the stock traded hands, compared to its average volume of 1,146,154. The company has a market cap of $3,202.99, a price-to-earnings ratio of 16.35, a PEG ratio of 1.85 and a beta of 1.25. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.59.

TCF Financial Corporation (NYSE:TCF) last released its quarterly earnings results on Friday, October 27th. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.02). The company had revenue of $343.30 million during the quarter, compared to analyst estimates of $340.45 million. TCF Financial Corporation had a net margin of 15.27% and a return on equity of 9.63%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. equities research analysts predict that TCF Financial Corporation will post 1.22 earnings per share for the current fiscal year.

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

In other news, Director Barry N. Winslow purchased 12,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were purchased at an average cost of $25.00 per share, with a total value of $300,000.00. Following the completion of the transaction, 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 SEC, which is available through this link. Corporate insiders own 2.50% of the company’s stock.

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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