TCF Financial Corp.’s (TCB) Neutral Rating Reaffirmed at Piper Jaffray Cos.
TCF Financial Corp. (NYSE:TCB)‘s stock had its “neutral” rating reissued by equities researchers at Piper Jaffray Cos. in a research report issued on Saturday. They presently have a $15.00 target price on the stock. Piper Jaffray Cos.’s target price suggests a potential upside of 2.25% from the stock’s current price.
A number of other research firms have also weighed in on TCB. Credit Agricole SA lifted their price objective on TCF Financial Corp. from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Friday, September 23rd. FBR & Co lowered TCF Financial Corp. from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $16.00 to $14.00 in a research note on Monday, July 25th. Keefe, Bruyette & Woods raised their target price on TCF Financial Corp. from $15.00 to $15.50 and gave the company a “market perform” rating in a research report on Monday, July 25th. Zacks Investment Research upgraded TCF Financial Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Finally, Barclays PLC raised their target price on TCF Financial Corp. from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.41.
Shares of TCF Financial Corp. (NYSE:TCB) opened at 14.67 on Friday. TCF Financial Corp. has a 12 month low of $10.37 and a 12 month high of $15.94. The stock has a market capitalization of $2.45 billion, a P/E ratio of 12.87 and a beta of 1.12. The firm’s 50-day moving average price is $14.45 and its 200-day moving average price is $13.51.
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TCF Financial Corp. (NYSE:TCB) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. The business earned $330.90 million during the quarter, compared to analyst estimates of $214.32 million. TCF Financial Corp. had a return on equity of 10.14% and a net margin of 15.34%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. On average, equities research analysts forecast that TCF Financial Corp. will post $1.18 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. bought a new position in shares of TCF Financial Corp. during the second quarter valued at $120,000. Hsbc Holdings PLC bought a new position in shares of TCF Financial Corp. during the second quarter valued at $129,000. Bank of Montreal Can bought a new position in shares of TCF Financial Corp. during the second quarter valued at $130,000. White Pine Capital LLC boosted its position in shares of TCF Financial Corp. by 27.4% in the second quarter. White Pine Capital LLC now owns 13,932 shares of the company’s stock valued at $176,000 after buying an additional 3,000 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of TCF Financial Corp. during the second quarter valued at $198,000. Institutional investors and hedge funds own 78.20% of the company’s stock.
About TCF Financial Corp.
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: Lending, Funding and Support Services. Its Lending segment includes consumer real estate, commercial real estate and business lending, leasing and equipment finance, inventory finance and auto finance.
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