TCF Financial Co. (NYSE:TCF) Receives Consensus Rating of “Buy” from Brokerages

TCF Financial Co. (NYSE:TCF) has received an average recommendation of “Buy” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $37.45.

TCF has been the subject of several analyst reports. Wells Fargo & Co dropped their target price on TCF Financial from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Raymond James set a $28.00 price target on TCF Financial and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Jaffray Companies set a $52.00 price target on TCF Financial and gave the company a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $47.00 price target on shares of TCF Financial in a research report on Friday, August 16th. Finally, Morgan Stanley lowered their price target on TCF Financial from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd.

TCF stock traded up $0.60 during trading on Thursday, hitting $38.04. 804,351 shares of the company traded hands, compared to its average volume of 800,927. The firm has a market capitalization of $2.63 billion, a PE ratio of 20.02, a P/E/G ratio of 1.36 and a beta of 1.30. TCF Financial has a 1 year low of $34.62 and a 1 year high of $48.26. The company has a 50-day moving average of $38.29 and a 200-day moving average of $28.06. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.97 and a current ratio of 0.97.

TCF Financial (NYSE:TCF) last issued its earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.07. The company had revenue of $363.80 million during the quarter, compared to analysts’ expectations of $365.47 million. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. TCF Financial’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. Sell-side analysts expect that TCF Financial will post 1.95 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCF. CWM LLC grew its stake in shares of TCF Financial by 106,479.5% in the 3rd quarter. CWM LLC now owns 46,895 shares of the bank’s stock worth $1,785,000 after buying an additional 46,851 shares during the last quarter. World Asset Management Inc purchased a new stake in shares of TCF Financial in the 3rd quarter worth approximately $274,000. Fenimore Asset Management Inc. purchased a new stake in shares of TCF Financial in the 3rd quarter worth approximately $597,000. Virginia Retirement Systems ET AL purchased a new stake in shares of TCF Financial in the 3rd quarter worth approximately $1,096,000. Finally, Brinker Capital Inc. purchased a new stake in shares of TCF Financial in the 3rd quarter worth approximately $876,000. 80.46% of the stock is owned by institutional investors and hedge funds.

TCF Financial Company Profile

TCF Financial Corporation operates as the bank holding company for TCF National Bank that provides various financial products and services in the United States and Canada. It operates through Consumer Banking, Wholesale Banking, and Enterprise Services segments. The company offers checking, savings, and money market accounts; certificates of deposit; and individual retirement accounts.

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Analyst Recommendations for TCF Financial (NYSE:TCF)

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