TCF Financial (TCF) Downgraded to Neutral at Bank of America

Bank of America cut shares of TCF Financial (NYSE:TCF) from a buy rating to a neutral rating in a report published on Thursday, MarketBeat.com reports.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Co set a $25.00 target price on TCF Financial and gave the company a hold rating in a report on Tuesday, October 2nd. Royal Bank of Canada reissued an outperform rating and set a $25.00 target price on shares of TCF Financial in a report on Tuesday, October 23rd. Zacks Investment Research raised TCF Financial from a hold rating to a buy rating and set a $21.00 target price for the company in a report on Monday, December 31st. Raymond James reduced their target price on TCF Financial from $28.00 to $24.00 and set an outperform rating for the company in a report on Tuesday, October 23rd. Finally, Keefe, Bruyette & Woods raised TCF Financial from a market perform rating to an outperform rating and set a $26.00 target price for the company in a report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $24.99.

NYSE TCF traded up $0.15 during trading hours on Thursday, reaching $20.75. The company’s stock had a trading volume of 888,400 shares, compared to its average volume of 1,106,838. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 0.93 and a beta of 1.15. TCF Financial has a 1-year low of $18.17 and a 1-year high of $27.34. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.50.



TCF Financial (NYSE:TCF) last released its quarterly earnings results on Monday, October 22nd. The bank reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. TCF Financial had a return on equity of 12.89% and a net margin of 20.22%. The company had revenue of $365.57 million during the quarter, compared to analysts’ expectations of $367.63 million. During the same quarter in the prior year, the firm posted $0.29 EPS. TCF Financial’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts predict that TCF Financial will post 1.87 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. First Hawaiian Bank grew its position in shares of TCF Financial by 3.7% in the fourth quarter. First Hawaiian Bank now owns 19,767 shares of the bank’s stock valued at $385,000 after purchasing an additional 703 shares in the last quarter. American International Group Inc. grew its position in TCF Financial by 0.7% in the third quarter. American International Group Inc. now owns 340,831 shares of the bank’s stock worth $8,115,000 after acquiring an additional 2,263 shares during the period. OppenheimerFunds Inc. grew its position in TCF Financial by 6.4% in the second quarter. OppenheimerFunds Inc. now owns 38,053 shares of the bank’s stock worth $937,000 after acquiring an additional 2,288 shares during the period. Foundry Partners LLC grew its position in TCF Financial by 0.3% in the third quarter. Foundry Partners LLC now owns 856,616 shares of the bank’s stock worth $20,396,000 after acquiring an additional 2,432 shares during the period. Finally, Aperio Group LLC grew its position in TCF Financial by 4.5% in the third quarter. Aperio Group LLC now owns 62,638 shares of the bank’s stock worth $1,491,000 after acquiring an additional 2,696 shares during the period. Institutional investors and hedge funds 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.

Recommended Story: Market Capitalization – What it Means for Investors

Analyst Recommendations for TCF Financial (NYSE:TCF)

Receive News & Ratings for TCF Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCF Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply