Zacks Investment Research Lowers TCF Financial (TCF) to Hold

TCF Financial (NYSE:TCF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Shares of TCF Financial have outperformed the industry over the past six months. Yet, the company’s earnings surprise history is not impressive. It missed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. In fourth-quarter 2017, the company witnessed higher expenses and provisions, partially offset by robust organic growth. TCF Financial’s revenues continue to be hurt by the consistently declining banking fees over the last few years. Also, mounting costs due to increasing staff level is expected to impact bottom line. However, increasing loans and strong deposit mix will likely aid profitability. The company has been also benefiting from improving credit quality in consumer real estate portfolio and has witnessed enhanced profitability ratios as well, which keeps us encouraged.”

Several other equities research analysts have also recently commented on the company. BMO Capital Markets upgraded TCF Financial from a “market perform” rating to an “outperform” rating and set a $26.00 price target for the company in a research note on Friday. ValuEngine upgraded TCF Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley upped their price target on TCF Financial from $21.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Jefferies Group restated a “hold” rating on shares of TCF Financial in a research note on Thursday, February 1st. Finally, Barclays cut TCF Financial from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $23.00 to $22.00 in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $21.58.

TCF Financial (TCF) traded up $0.07 during trading on Tuesday, hitting $21.41. The stock had a trading volume of 231,676 shares, compared to its average volume of 1,441,907. TCF Financial has a twelve month low of $14.58 and a twelve month high of $22.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $3,639.39, a PE ratio of 14.89, a PEG ratio of 1.52 and a beta of 1.21.

In other TCF Financial news, Director Peter Bell sold 15,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $20.53, for a total value of $307,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC purchased a new position in TCF Financial in the fourth quarter worth $128,000. Zions Bancorporation acquired a new stake in TCF Financial in the third quarter valued at $116,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in TCF Financial in the third quarter valued at $432,000. Evercore Wealth Management LLC acquired a new stake in TCF Financial in the third quarter valued at $128,000. Finally, Ladenburg Thalmann Financial Services Inc. acquired a new stake in TCF Financial in the third quarter valued at $140,000. Hedge funds and other institutional investors own 82.89% of the company’s stock.

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TCF Financial 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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