Q3 2016 EPS Estimates for TCF Financial Corp. (TCB) Cut by Jefferies Group
TCF Financial Corp. (NYSE:TCB) – Equities researchers at Jefferies Group reduced their Q3 2016 earnings estimates for shares of TCF Financial Corp. in a research report issued on Tuesday. Jefferies Group analyst E. Harmon now expects that the brokerage will post earnings per share of $0.30 for the quarter, down from their previous estimate of $0.31. Jefferies Group currently has a “Hold” rating and a $13.50 target price on the stock. Jefferies Group also issued estimates for TCF Financial Corp.’s Q4 2016 earnings at $0.29 EPS, FY2016 earnings at $1.18 EPS and FY2017 earnings at $1.20 EPS.
Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reissued a “hold” rating on shares of TCF Financial Corp. in a research report on Saturday, July 9th. Keefe, Bruyette & Woods boosted their price target on TCF Financial Corp. from $15.00 to $15.50 and gave the company a “market perform” rating in a research note on Monday, July 25th. Zacks Investment Research upgraded TCF Financial Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday. FBR & Co lowered TCF Financial Corp. from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $16.00 to $14.00 in a research note on Monday, July 25th. Finally, Barclays PLC boosted their price target on TCF Financial Corp. from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.79.
Shares of TCF Financial Corp. (NYSE:TCB) traded up 1.028% during mid-day trading on Friday, reaching $14.245. The company’s stock had a trading volume of 265,474 shares. The company has a 50 day moving average of $14.49 and a 200-day moving average of $13.57. The firm has a market capitalization of $2.38 billion, a P/E ratio of 12.496 and a beta of 1.12. TCF Financial Corp. has a 12 month low of $10.37 and a 12 month high of $15.94.
TCF Financial Corp. (NYSE:TCB) last announced its earnings results on Friday, July 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $330.90 million for the quarter, compared to the consensus estimate of $214.32 million. TCF Financial Corp. had a return on equity of 10.14% and a net margin of 15.34%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS.
Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in TCF Financial Corp. by 75.7% in the first quarter. JPMorgan Chase & Co. now owns 2,459,051 shares of the company’s stock worth $30,149,000 after buying an additional 1,059,825 shares during the period. Dimensional Fund Advisors LP raised its stake in TCF Financial Corp. by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,923,481 shares of the company’s stock worth $100,230,000 after buying an additional 1,050,082 shares during the period. Citadel Advisors LLC raised its stake in TCF Financial Corp. by 4,570.8% in the second quarter. Citadel Advisors LLC now owns 1,072,280 shares of the company’s stock worth $13,565,000 after buying an additional 1,049,323 shares during the period. Renaissance Technologies LLC raised its stake in TCF Financial Corp. by 81.4% in the first quarter. Renaissance Technologies LLC now owns 2,075,900 shares of the company’s stock worth $25,451,000 after buying an additional 931,425 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in TCF Financial Corp. by 14.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,606,168 shares of the company’s stock worth $68,732,000 after buying an additional 710,999 shares during the period. Institutional investors and hedge funds own 78.20% of the company’s stock.
About TCF Financial Corp.
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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