TCF Financial Corp. (NYSE:TCB) Receives $14.50 Consensus Target Price from Brokerages
TCF Financial Corp. (NYSE:TCB) has earned an average rating of “Hold” from the twelve ratings firms that are covering the stock. Seven equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $14.50.
Several analysts have commented on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of TCF Financial Corp. in a research note on Saturday, July 9th. Keefe, Bruyette & Woods boosted their price objective on shares of TCF Financial Corp. from $15.00 to $15.50 and gave the company a “market perform” rating in a research note on Monday, July 25th. Jefferies Group reissued a “hold” rating and set a $13.50 price objective on shares of TCF Financial Corp. in a research note on Thursday, July 7th. Zacks Investment Research cut shares of TCF Financial Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Finally, FBR & Co cut shares of TCF Financial Corp. from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $16.00 to $14.00 in a research note on Monday, July 25th.
Institutional investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of TCF Financial Corp. by 3.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,342 shares of the company’s stock worth $114,000 after buying an additional 334 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of TCF Financial Corp. during the second quarter worth approximately $120,000. Hsbc Holdings PLC purchased a new position in shares of TCF Financial Corp. during the second quarter worth approximately $129,000. Bank of Montreal Can purchased a new position in shares of TCF Financial Corp. during the second quarter worth approximately $130,000. Finally, White Pine Capital LLC raised its position in shares of TCF Financial Corp. by 27.4% in the second quarter. White Pine Capital LLC now owns 13,932 shares of the company’s stock worth $176,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 78.20% of the company’s stock.
TCF Financial Corp. (NYSE:TCB) opened at 14.49 on Thursday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 12.71 and a beta of 1.17. The company has a 50-day moving average price of $14.23 and a 200 day moving average price of $13.31. TCF Financial Corp. has a 12-month low of $10.37 and a 12-month high of $15.94.
TCF Financial Corp. (NYSE:TCB) last released its earnings results on Friday, July 22nd. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The firm earned $330.90 million during the quarter, compared to analysts’ expectations of $214.32 million. TCF Financial Corp. had a net margin of 15.34% and a return on equity of 10.14%. TCF Financial Corp.’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. On average, equities research analysts predict that TCF Financial Corp. will post $1.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.30 dividend on an annualized basis and a yield of 2.07%. TCF Financial Corp.’s dividend payout ratio is currently 26.09%.
TCF Financial Corp. 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: Lending, Funding and Support Services. Its Lending segment includes consumer real estate, commercial real estate and business lending, leasing and equipment finance, inventory finance and auto finance.
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