Q3 2016 EPS Estimates for TCF Financial Corp. (TCB) Cut by Jefferies Group
TCF Financial Corp. (NYSE:TCB) – Research analysts at Jefferies Group decreased their Q3 2016 earnings per share estimates for shares of TCF Financial Corp. in a research report issued on Tuesday. Jefferies Group analyst E. Harmon now expects that the firm will earn $0.30 per share for the quarter, down from their previous estimate of $0.31. Jefferies Group has a “Hold” rating and a $13.50 price objective on the stock. Jefferies Group also issued estimates for TCF Financial Corp.’s Q4 2016 earnings at $0.29 EPS, FY2016 earnings at $1.18 EPS and FY2017 earnings at $1.20 EPS.
TCF Financial Corp. (NYSE:TCB) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $330.90 million for the quarter, compared to analyst estimates of $214.32 million. TCF Financial Corp. had a net margin of 15.34% and a return on equity of 10.14%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of TCF Financial Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of TCF Financial Corp. in a report on Wednesday. Barclays PLC boosted their target price on shares of TCF Financial Corp. from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank AG boosted their target price on shares of TCF Financial Corp. from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $15.00 target price on shares of TCF Financial Corp. in a report on Saturday, October 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.79.
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Shares of TCF Financial Corp. (NYSE:TCB) traded up 1.028% during midday trading on Friday, reaching $14.245. 265,474 shares of the company’s stock were exchanged. The stock has a market cap of $2.38 billion, a PE ratio of 12.496 and a beta of 1.12. The stock’s 50 day moving average is $14.49 and its 200-day moving average is $13.57. TCF Financial Corp. has a 12-month low of $10.37 and a 12-month high of $15.94.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. purchased a new position in TCF Financial Corp. during the third quarter worth $147,000. Oregon Public Employees Retirement Fund boosted its position in TCF Financial Corp. by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 59,418 shares of the company’s stock worth $862,000 after buying an additional 1,179 shares during the period. Foundry Partners LLC boosted its position in TCF Financial Corp. by 3.1% in the third quarter. Foundry Partners LLC now owns 619,267 shares of the company’s stock worth $8,986,000 after buying an additional 18,647 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in TCF Financial Corp. by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 29,530 shares of the company’s stock worth $374,000 after buying an additional 94 shares during the period. Finally, Mason Street Advisors LLC purchased a new position in TCF Financial Corp. during the second quarter worth $987,000. Institutional investors and hedge funds own 78.20% of the company’s stock.
TCF Financial Corp. Company Profile
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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