TCF Financial Co. (NYSE:TCF) – Equities research analysts at Jefferies Financial Group reduced their Q2 2019 EPS estimates for TCF Financial in a research note issued to investors on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings of $0.49 per share for the quarter, down from their prior estimate of $0.50.
A number of other equities analysts also recently issued reports on TCF. Bank of America downgraded TCF Financial from a “buy” rating to a “neutral” rating in a research report on Thursday. Zacks Investment Research raised TCF Financial from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, October 10th. Raymond James cut their target price on TCF Financial from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 23rd. ValuEngine raised TCF Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, BMO Capital Markets lowered their price target on shares of TCF Financial from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $24.99.
TCF Financial (NYSE:TCF) last issued its quarterly earnings data on Monday, October 22nd. The bank reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $365.57 million during the quarter, compared to the consensus estimate of $367.63 million. TCF Financial had a net margin of 20.22% and a return on equity of 12.89%. TCF Financial’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of TCF Financial by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 15,712,787 shares of the bank’s stock worth $374,121,000 after purchasing an additional 298,763 shares during the last quarter. Vanguard Group Inc raised its position in shares of TCF Financial by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 15,712,787 shares of the bank’s stock worth $374,121,000 after purchasing an additional 298,763 shares during the last quarter. BlackRock Inc. raised its position in shares of TCF Financial by 1.2% during the 3rd quarter. BlackRock Inc. now owns 14,737,744 shares of the bank’s stock worth $350,906,000 after purchasing an additional 181,386 shares during the last quarter. Millennium Management LLC raised its holdings in TCF Financial by 68.0% in the 2nd quarter. Millennium Management LLC now owns 4,831,359 shares of the bank’s stock valued at $118,948,000 after acquiring an additional 1,954,772 shares during the last quarter. Finally, LSV Asset Management raised its holdings in TCF Financial by 1.6% in the 3rd quarter. LSV Asset Management now owns 3,840,764 shares of the bank’s stock valued at $91,448,000 after acquiring an additional 61,612 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.
About TCF Financial
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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