Zacks: Brokerages Anticipate TCF Financial Corporation (TCF) Will Announce Quarterly Sales of $342.69 Million
Brokerages expect that TCF Financial Corporation (NYSE:TCF) will report $342.69 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for TCF Financial Corporation’s earnings, with estimates ranging from $334.00 million to $347.83 million. TCF Financial Corporation reported sales of $331.69 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The firm is expected to report its next quarterly earnings report on Friday, October 20th.
On average, analysts expect that TCF Financial Corporation will report full-year sales of $342.69 million for the current fiscal year, with estimates ranging from $1.34 billion to $1.37 billion. For the next year, analysts anticipate that the business will post sales of $1.43 billion per share, with estimates ranging from $1.38 billion to $1.46 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow TCF Financial Corporation.
TCF Financial Corporation (NYSE:TCF) last announced its quarterly earnings results on Monday, July 24th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $336.12 million. TCF Financial Corporation had a return on equity of 9.59% and a net margin of 15.13%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS.
A number of equities research analysts have weighed in on the company. Deutsche Bank AG reaffirmed a “hold” rating and set a $17.00 price objective (down from $18.00) on shares of TCF Financial Corporation in a report on Tuesday, July 25th. Zacks Investment Research downgraded TCF Financial Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $17.00 price objective (up from $16.50) on shares of TCF Financial Corporation in a report on Friday, July 7th. Finally, Wedbush assumed coverage on TCF Financial Corporation in a report on Wednesday, June 28th. They set an “underperform” rating and a $14.00 price objective on the stock.
In related news, CFO Brian W. Maass acquired 3,225 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were bought at an average cost of $15.50 per share, with a total value of $49,987.50. Following the completion of the acquisition, the chief financial officer now owns 60,027 shares of the company’s stock, valued at $930,418.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Barry N. Winslow sold 10,274 shares of TCF Financial Corporation stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $25.19, for a total value of $258,802.06. Following the sale, the director now directly owns 2,365 shares in the company, valued at $59,574.35. The disclosure for this sale can be found here. Insiders have acquired 4,201 shares of company stock worth $75,015 over the last ninety days. Company insiders own 2.50% of the company’s stock.
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Shares of TCF Financial Corporation (NYSE TCF) opened at 14.93 on Friday. The stock’s 50 day moving average price is $15.73 and its 200-day moving average price is $16.34. The firm has a market capitalization of $2.52 billion, a PE ratio of 12.94 and a beta of 1.26. TCF Financial Corporation has a 12 month low of $13.73 and a 12 month high of $20.03.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, August 11th. TCF Financial Corporation’s payout ratio is 25.86%.
TCF Financial Corporation 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: Consumer Banking, Wholesale Banking and Enterprise Services. Consumer Banking comprises all of the Company’s consumer-facing businesses.
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