TCF Financial (TCF) Earns “Buy” Rating from DA Davidson

DA Davidson reissued their buy rating on shares of TCF Financial (NYSE:TCF) in a research note published on Wednesday morning. The firm currently has a $23.00 target price on the bank’s stock. DA Davidson also issued estimates for TCF Financial’s Q4 2017 earnings at ($0.14) EPS and FY2017 earnings at $0.73 EPS.

Several other brokerages have also commented on TCF. Deutsche Bank increased their price objective on TCF Financial from $17.00 to $18.00 and gave the company a hold rating in a report on Wednesday, November 8th. Royal Bank Of Canada reissued a buy rating and issued a $19.00 target price on shares of TCF Financial in a research report on Friday, September 8th. J P Morgan Chase & Co upped their target price on TCF Financial from $18.00 to $19.00 and gave the company a neutral rating in a research report on Monday, October 30th. Barclays upped their target price on TCF Financial from $19.00 to $20.00 and gave the company an overweight rating in a research report on Monday, October 30th. Finally, BMO Capital Markets reissued a hold rating and issued a $18.00 target price on shares of TCF Financial in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $19.08.

Shares of TCF Financial (TCF) opened at $20.34 on Wednesday. TCF Financial has a twelve month low of $14.58 and a twelve month high of $20.92. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $3,491.95, a price-to-earnings ratio of 17.82, a PEG ratio of 2.98 and a beta of 1.29.

TCF Financial (NYSE:TCF) last issued its quarterly earnings data on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). TCF Financial had a net margin of 15.27% and a return on equity of 9.63%. The business had revenue of $343.30 million for the quarter, compared to analysts’ expectations of $340.45 million. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up .4% on a year-over-year basis. sell-side analysts expect that TCF Financial will post 0.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Tuesday, November 14th. TCF Financial’s payout ratio is 26.32%.

In other news, Director Barry N. Winslow bought 12,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 2,365 shares in the company, valued at $59,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Shelton Capital Management acquired a new stake in TCF Financial during the 3rd quarter worth about $217,000. Public Employees Retirement System of Ohio acquired a new stake in TCF Financial during the 3rd quarter worth about $4,448,000. Algert Global LLC acquired a new stake in TCF Financial during the 3rd quarter worth about $513,000. Ameritas Investment Partners Inc. acquired a new stake in TCF Financial during the 3rd quarter worth about $781,000. Finally, Sterling Capital Management LLC acquired a new stake in TCF Financial during the 3rd quarter worth about $719,000. 82.34% of the stock is currently owned by institutional investors.

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About TCF Financial

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.

Analyst Recommendations for TCF Financial (NYSE:TCF)

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