TCF Financial Corporation (TCF) Rating Lowered to Sell at Zacks Investment Research
TCF Financial Corporation (NYSE:TCF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “Shares of TCF Financial underperformed the industry year to date. Also, the company’s earnings surprise history is not impressive. It missed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. The company remains affected by the consistently declining banking fees for the last few years. However, increasing loans and strong deposit mix keep us encouraged. Though the company has been benefiting from improving credit quality in consumer real estate portfolio and witnessed enhanced profitability ratios as well, mounting expenses remains a near-term headwind.”
Other equities analysts also recently issued reports about the company. JMP Securities began coverage on TCF Financial Corporation in a research report on Thursday, August 31st. They issued a “market perform” rating on the stock. Deutsche Bank AG restated a “hold” rating and issued a $17.00 price objective (down from $18.00) on shares of TCF Financial Corporation in a research report on Tuesday, July 25th. Morgan Stanley restated an “equal weight” rating and issued a $17.00 price objective (up from $16.50) on shares of TCF Financial Corporation in a research report on Friday, July 7th. BMO Capital Markets restated a “hold” rating and issued a $18.00 price objective on shares of TCF Financial Corporation in a research report on Friday, September 1st. Finally, Wedbush began coverage on TCF Financial Corporation in a research report on Wednesday, June 28th. They issued an “underperform” rating and a $14.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. TCF Financial Corporation currently has a consensus rating of “Hold” and a consensus target price of $17.00.
TCF Financial Corporation (TCF) opened at 16.59 on Monday. The stock’s 50 day moving average price is $15.46 and its 200-day moving average price is $16.02. TCF Financial Corporation has a 12 month low of $13.73 and a 12 month high of $20.03. The stock has a market cap of $2.80 billion, a PE ratio of 14.38 and a beta of 1.25.
TCF Financial Corporation (NYSE:TCF) last released its earnings results on Monday, July 24th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The company had revenue of $341.80 million for the quarter, compared to the consensus estimate of $336.12 million. TCF Financial Corporation had a return on equity of 9.59% and a net margin of 15.13%. TCF Financial Corporation’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. Analysts anticipate that TCF Financial Corporation will post $1.20 EPS for the current fiscal year.
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In other news, Director Barry N. Winslow bought 12,000 shares of TCF Financial Corporation stock in a transaction dated 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 completion of the acquisition, the director now owns 2,365 shares of the company’s stock, valued at approximately $59,125. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.50% of the company’s stock.
About TCF Financial Corporation
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.
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