Q3 2020 EPS Estimates for TCF Financial Co. (NYSE:TCF) Decreased by Analyst
TCF Financial Co. (NYSE:TCF) – Analysts at Piper Sandler lowered their Q3 2020 earnings per share (EPS) estimates for TCF Financial in a note issued to investors on Tuesday, March 24th. Piper Sandler analyst N. Race now expects that the bank will earn $0.73 per share for the quarter, down from their previous estimate of $0.90. Piper Sandler also issued estimates for TCF Financial’s Q4 2020 earnings at $0.93 EPS, Q1 2021 earnings at $0.88 EPS, Q2 2021 earnings at $0.96 EPS, Q3 2021 earnings at $0.97 EPS, Q4 2021 earnings at $1.02 EPS and FY2021 earnings at $3.82 EPS.
Several other research analysts have also recently issued reports on the stock. Raymond James decreased their price objective on shares of TCF Financial from $55.00 to $48.00 and set a “strong-buy” rating for the company in a report on Friday, March 6th. UBS Group raised shares of TCF Financial from a “neutral” rating to a “buy” rating and cut their target price for the company from $46.00 to $37.00 in a research note on Tuesday, March 10th. TheStreet raised shares of TCF Financial from a “c+” rating to a “b-” rating in a research note on Wednesday, November 27th. Janney Montgomery Scott raised shares of TCF Financial from a “neutral” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Monday, March 2nd. Finally, Morgan Stanley cut their target price on shares of TCF Financial from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 17th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.64.
TCF Financial (NYSE:TCF) last posted its quarterly earnings data on Monday, January 27th. The bank reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. The business had revenue of $566.81 million during the quarter, compared to analysts’ expectations of $557.08 million. TCF Financial had a net margin of 20.10% and a return on equity of 14.01%. During the same period last year, the firm posted $0.51 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 14th were given a $0.35 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.40 annualized dividend and a dividend yield of 5.95%. TCF Financial’s dividend payout ratio (DPR) is presently 73.68%.
In related news, EVP Michael Scott Jones sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $43.80, for a total value of $876,000.00. Following the completion of the sale, the executive vice president now owns 78,144 shares in the company, valued at approximately $3,422,707.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in TCF. Orion Portfolio Solutions LLC purchased a new stake in TCF Financial in the 4th quarter worth approximately $26,000. Ancora Advisors LLC purchased a new stake in TCF Financial in the 4th quarter worth approximately $28,000. Lionsbridge Wealth Management LLC purchased a new stake in TCF Financial in the 4th quarter worth approximately $47,000. Tradewinds Capital Management LLC purchased a new stake in TCF Financial in the 4th quarter worth approximately $52,000. Finally, Advisors Preferred LLC purchased a new stake in TCF Financial in the 4th quarter worth approximately $56,000. Institutional investors own 80.46% of the company’s stock.
About TCF Financial
TCF Financial Corporation operates as the bank 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 deposit; and individual retirement accounts.
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