Barclays Increases TCF Financial (TCF) Price Target to $23.00

TCF Financial (NYSE:TCF) had its price objective upped by research analysts at Barclays from $21.00 to $23.00 in a research note issued to investors on Tuesday. The firm currently has an “overweight” rating on the bank’s stock. Barclays’ price target indicates a potential upside of 12.20% from the stock’s previous close.

A number of other brokerages have also recently issued reports on TCF. Deutsche Bank increased their price objective on shares of TCF Financial from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. Royal Bank of Canada reissued a “buy” rating and issued a $19.00 price objective on shares of TCF Financial in a research note on Friday, September 8th. JPMorgan Chase & Co. increased their price objective on shares of TCF Financial from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Zacks Investment Research raised shares of TCF Financial from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday. Finally, ValuEngine raised shares of TCF Financial from a “hold” rating to a “buy” rating in a research note on Sunday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. TCF Financial currently has a consensus rating of “Hold” and a consensus target price of $19.69.

Shares of TCF Financial (NYSE TCF) traded down $0.13 during midday trading on Tuesday, hitting $20.50. 1,071,600 shares of the stock were exchanged, compared to its average volume of 1,539,276. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3,524.61, a PE ratio of 17.98, a PEG ratio of 2.78 and a beta of 1.29. TCF Financial has a 1 year low of $14.58 and a 1 year high of $21.29.

TCF Financial (NYSE:TCF) last announced its quarterly earnings data on Friday, October 27th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). The firm had revenue of $343.30 million during the quarter, compared to analysts’ expectations of $340.45 million. TCF Financial had a return on equity of 9.63% and a net margin of 15.27%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. sell-side analysts expect that TCF Financial will post 0.9 earnings per share for the current fiscal year.

In related news, Director Peter Bell sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $20.53, for a total transaction of $307,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.50% of the company’s stock.

Large investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. grew its stake in shares of TCF Financial by 24.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 789,527 shares of the bank’s stock worth $11,149,000 after buying an additional 155,163 shares in the last quarter. Norges Bank purchased a new position in shares of TCF Financial in the 4th quarter worth $47,991,000. Renaissance Technologies LLC grew its stake in shares of TCF Financial by 81.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,075,900 shares of the bank’s stock worth $25,451,000 after buying an additional 931,425 shares in the last quarter. Cooke & Bieler LP grew its stake in shares of TCF Financial by 1.3% in the 2nd quarter. Cooke & Bieler LP now owns 2,506,589 shares of the bank’s stock worth $31,708,000 after buying an additional 32,630 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of TCF Financial by 1,606.5% in the 3rd quarter. Bank of Montreal Can now owns 175,535 shares of the bank’s stock worth $2,547,000 after buying an additional 165,249 shares in the last quarter. 82.25% of the stock is owned by institutional investors and hedge funds.

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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.