$355.24 Million in Sales Expected for TCF Financial Corporation (TCF) This Quarter
Equities research analysts expect TCF Financial Corporation (NYSE:TCF) to announce sales of $355.24 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for TCF Financial Corporation’s earnings, with the highest sales estimate coming in at $362.00 million and the lowest estimate coming in at $350.06 million. TCF Financial Corporation posted sales of $327.11 million in the same quarter last year, which suggests a positive year over year growth rate of 8.6%. The company is expected to announce its next earnings report on Friday, January 26th.
According to Zacks, analysts expect that TCF Financial Corporation will report full year sales of $355.24 million for the current financial year, with estimates ranging from $1.36 billion to $1.38 billion. For the next year, analysts expect that the company will post sales of $1.46 billion per share, with estimates ranging from $1.44 billion to $1.48 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for TCF Financial Corporation.
TCF Financial Corporation (NYSE:TCF) last posted its earnings results on Friday, October 27th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). TCF Financial Corporation had a net margin of 15.27% and a return on equity of 9.63%. The firm had revenue of $343.30 million during the quarter, compared to the consensus estimate of $340.45 million. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue was up .4% compared to the same quarter last year.
TCF has been the subject of a number of analyst reports. JMP Securities began coverage on shares of TCF Financial Corporation in a research note on Thursday, August 31st. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of TCF Financial Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and issued a $19.00 target price on shares of TCF Financial Corporation in a research note on Friday, September 8th. Deutsche Bank AG restated a “hold” rating and issued a $17.00 target price (down previously from $18.00) on shares of TCF Financial Corporation in a research note on Tuesday, July 25th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $17.00 target price (up previously from $16.50) on shares of TCF Financial Corporation in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.00.
In related news, Director Barry N. Winslow acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the director now directly owns 2,365 shares of the company’s stock, valued at approximately $59,125. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.50% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of Infinity. The ex-dividend date is Tuesday, November 14th. TCF Financial Corporation’s dividend payout ratio (DPR) is 26.32%.
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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