TCF Financial (TCF) Lifted to “Outperform” at Keefe, Bruyette & Woods

TCF Financial (NYSE:TCF) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, MarketBeat reports. The brokerage currently has a $26.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 16.07% from the company’s current price.

Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded TCF Financial from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. BMO Capital Markets decreased their target price on TCF Financial from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, October 23rd. Jefferies Financial Group restated a “hold” rating and issued a $26.00 target price on shares of TCF Financial in a research note on Monday, July 30th. Sandler O’Neill restated a “buy” rating and issued a $29.00 target price on shares of TCF Financial in a research note on Friday, July 27th. Finally, Bank of America upgraded TCF Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $25.00 to $30.00 in a research note on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. TCF Financial has a consensus rating of “Hold” and a consensus price target of $25.53.

Shares of TCF stock opened at $22.40 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.98. TCF Financial has a 52 week low of $17.55 and a 52 week high of $27.34. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.03 and a beta of 1.08.

TCF Financial (NYSE:TCF) last issued its earnings results on Monday, October 22nd. The bank reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. TCF Financial had a return on equity of 12.89% and a net margin of 20.22%. The company had revenue of $365.57 million during the quarter, compared to the consensus estimate of $367.63 million. During the same period in the previous year, the firm posted $0.29 earnings per share. TCF Financial’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that TCF Financial will post 1.83 earnings per share for the current fiscal year.

In other news, EVP Michael Scott Jones sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $25.70, for a total transaction of $1,285,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas F. Jasper sold 77,725 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $25.69, for a total value of $1,996,755.25. The disclosure for this sale can be found here. Insiders own 2.34% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. LSV Asset Management boosted its position in shares of TCF Financial by 6.6% during the second quarter. LSV Asset Management now owns 3,779,152 shares of the bank’s stock worth $93,042,000 after buying an additional 232,888 shares during the period. Natixis acquired a new position in shares of TCF Financial during the second quarter worth approximately $1,322,000. GSA Capital Partners LLP acquired a new position in shares of TCF Financial during the second quarter worth approximately $1,440,000. Calamos Advisors LLC acquired a new position in shares of TCF Financial during the third quarter worth approximately $428,000. Finally, Martingale Asset Management L P acquired a new position in shares of TCF Financial during the second quarter worth approximately $2,089,000. Institutional investors and hedge funds own 80.97% of the company’s stock.

TCF Financial Company Profile

TCF Financial Corporation operates as the holding company for TCF National Bank that provides various financial products and services in the United States and Canada. It operates through Consumer Banking, Wholesale Banking, and Enterprise Services segments. The company offers checking, savings, and money market accounts; certificates of deposits; and individual retirement accounts.

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Analyst Recommendations for TCF Financial (NYSE:TCF)

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