Zacks Investment Research upgraded shares of TCF Financial (NYSE:TCF) from a hold rating to a buy rating in a research note issued to investors on Thursday. Zacks Investment Research currently has $26.00 target price on the bank’s stock.
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. 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 and strong deposit mix will likely 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.”
A number of other equities research analysts also recently commented on the stock. Jefferies Group reiterated a hold rating on shares of TCF Financial in a report on Thursday, February 1st. Wells Fargo downgraded shares of TCF Financial from an outperform rating to a market perform rating in a report on Wednesday, January 31st. UBS initiated coverage on shares of TCF Financial in a report on Thursday, March 22nd. They set a neutral rating and a $24.00 price target for the company. Morgan Stanley reiterated an equal weight rating and set a $23.00 price target (up from $22.00) on shares of TCF Financial in a report on Wednesday, March 7th. Finally, BMO Capital Markets upgraded shares of TCF Financial from a market perform rating to an outperform rating and set a $26.00 price target for the company in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $22.32.
NYSE:TCF opened at $22.26 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.52. TCF Financial has a twelve month low of $14.58 and a twelve month high of $23.80. The stock has a market cap of $3,805.61, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05.
TCF Financial (NYSE:TCF) last posted its earnings results on Tuesday, January 30th. The bank reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). TCF Financial had a net margin of 18.31% and a return on equity of 9.85%. The business had revenue of $362.75 million for the quarter, compared to analysts’ expectations of $355.48 million. research analysts forecast that TCF Financial will post 1.71 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in TCF. Zions Bancorporation purchased a new stake in TCF Financial in the third quarter valued at approximately $116,000. Cerebellum GP LLC purchased a new stake in TCF Financial in the fourth quarter valued at approximately $128,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in TCF Financial in the third quarter valued at approximately $140,000. Janney Montgomery Scott LLC purchased a new stake in TCF Financial in the third quarter valued at approximately $174,000. Finally, State of Alaska Department of Revenue purchased a new stake in TCF Financial in the fourth quarter valued at approximately $190,000. Hedge funds and other institutional investors own 84.90% of the company’s stock.
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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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