TCF Financial (TCF) Rating Increased to Outperform at Keefe, Bruyette & Woods

TCF Financial (NYSE:TCF) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm presently has a $26.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 16.07% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Bank of America upgraded TCF Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $30.00 in a research note on Thursday, September 6th. Wells Fargo & Co set a $25.00 price objective on TCF Financial and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research cut TCF Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Morgan Stanley boosted their price objective on TCF Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of TCF Financial in a research note on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.53.

Shares of TCF Financial stock opened at $22.40 on Thursday. TCF Financial has a twelve month low of $17.55 and a twelve month high of $27.34. The firm has a market capitalization of $3.69 billion, a P/E ratio of 12.80, a PEG ratio of 1.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.98 and a current ratio of 0.99.

TCF Financial (NYSE:TCF) last issued its earnings results on Monday, October 22nd. The bank reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. TCF Financial had a return on equity of 12.89% and a net margin of 20.22%. The firm had revenue of $365.57 million for the quarter, compared to analysts’ expectations of $367.63 million. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that TCF Financial will post 1.83 EPS for the current year.

In other news, insider Thomas F. Jasper sold 77,725 shares of TCF Financial stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $25.69, for a total transaction of $1,996,755.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Scott Jones sold 50,000 shares of TCF Financial stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $25.70, for a total value of $1,285,000.00. The disclosure for this sale can be found here. 2.34% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new stake in shares of TCF Financial during the second quarter worth about $119,000. Winslow Evans & Crocker Inc. bought a new stake in TCF Financial in the second quarter valued at about $140,000. Smithfield Trust Co. bought a new stake in TCF Financial in the second quarter valued at about $148,000. NewSquare Capital LLC bought a new stake in TCF Financial in the second quarter valued at about $171,000. Finally, AdvisorNet Financial Inc increased its holdings in TCF Financial by 391.1% in the second quarter. AdvisorNet Financial Inc now owns 7,582 shares of the bank’s stock valued at $187,000 after buying an additional 6,038 shares during the last quarter. 80.97% of the stock is currently owned by institutional investors and hedge funds.

TCF Financial Company Profile

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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Analyst Recommendations for TCF Financial (NYSE:TCF)

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