TCF Financial Corp.’s (TCB) Neutral Rating Reaffirmed at Piper Jaffray Cos.
Piper Jaffray Cos. reissued their neutral rating on shares of TCF Financial Corp. (NYSE:TCB) in a report released on Saturday morning. The brokerage currently has a $15.00 price objective on the stock.
Several other equities research analysts also recently commented on TCB. Zacks Investment Research downgraded TCF Financial Corp. from a hold rating to a sell rating in a report on Monday, June 27th. Jefferies Group reiterated a hold rating and issued a $13.50 price objective on shares of TCF Financial Corp. in a report on Thursday, July 7th. JPMorgan Chase & Co. reduced their price objective on TCF Financial Corp. from $13.50 to $13.00 and set a neutral rating for the company in a report on Thursday, July 7th. FBR & Co downgraded TCF Financial Corp. from an outperform rating to a market perform rating and reduced their price objective for the stock from $16.00 to $14.00 in a report on Monday, July 25th. Finally, Barclays PLC lifted their price objective on TCF Financial Corp. from $14.00 to $15.00 and gave the stock an overweight rating in a report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $14.41.
Shares of TCF Financial Corp. (NYSE:TCB) opened at 14.67 on Friday. The firm’s 50-day moving average is $14.45 and its 200 day moving average is $13.51. TCF Financial Corp. has a 12-month low of $10.37 and a 12-month high of $15.94. The stock has a market capitalization of $2.45 billion, a P/E ratio of 12.87 and a beta of 1.12.
TCF Financial Corp. (NYSE:TCB) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. TCF Financial Corp. had a return on equity of 10.14% and a net margin of 15.34%. The company earned $330.90 million during the quarter, compared to the consensus estimate of $214.32 million. During the same period last year, the company earned $0.29 EPS. TCF Financial Corp.’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that TCF Financial Corp. will post $1.18 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of TCB. Pacad Investment Ltd. acquired a new position in TCF Financial Corp. during the second quarter worth approximately $120,000. Hsbc Holdings PLC acquired a new position in TCF Financial Corp. during the second quarter worth approximately $129,000. Bank of Montreal Can acquired a new position in TCF Financial Corp. during the second quarter worth approximately $130,000. White Pine Capital LLC boosted its position in TCF Financial Corp. by 27.4% in the second quarter. White Pine Capital LLC now owns 13,932 shares of the company’s stock worth $176,000 after buying an additional 3,000 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in TCF Financial Corp. during the second quarter worth approximately $198,000. 78.20% of the stock is currently owned by institutional investors.
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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