TCF Financial (TCF) Lifted to “Outperform” at Raymond James

Raymond James upgraded shares of TCF Financial (NYSE:TCF) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports.

Other research analysts also recently issued reports about the stock. Jefferies Group reissued a hold rating on shares of TCF Financial in a research report on Thursday, February 1st. Zacks Investment Research downgraded shares of TCF Financial from a buy rating to a hold rating in a research report on Friday, April 6th. Barclays boosted their price objective on shares of TCF Financial from $23.00 to $24.00 and gave the company an equal weight rating in a research report on Tuesday, April 24th. UBS Group began coverage on shares of TCF Financial in a research report on Thursday, March 22nd. They set a neutral rating and a $24.00 price objective on the stock. Finally, Wells Fargo & Co downgraded shares of TCF Financial from an outperform rating to a market perform rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $24.75.

TCF Financial stock opened at $26.31 on Tuesday. The company has a market capitalization of $4.37 billion, a PE ratio of 21.93, a PEG ratio of 1.75 and a beta of 1.04. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. TCF Financial has a fifty-two week low of $14.58 and a fifty-two week high of $26.76.

TCF Financial (NYSE:TCF) last released its earnings results on Monday, April 23rd. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $355.40 million for the quarter, compared to the consensus estimate of $349.56 million. TCF Financial had a net margin of 19.62% and a return on equity of 10.86%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. equities research analysts predict that TCF Financial will post 1.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, May 14th. TCF Financial’s payout ratio is presently 50.00%.

In other TCF Financial news, Director Peter Bell sold 9,716 shares of TCF Financial stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $25.39, for a total value of $246,689.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry N. Winslow sold 12,000 shares of TCF Financial stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $25.99, for a total transaction of $311,880.00. The disclosure for this sale can be found here. 2.34% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parametrica Management Ltd acquired a new stake in TCF Financial in the first quarter valued at approximately $200,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in TCF Financial in the fourth quarter valued at approximately $190,000. State of Alaska Department of Revenue acquired a new stake in TCF Financial in the fourth quarter valued at approximately $190,000. MAI Capital Management acquired a new stake in TCF Financial in the fourth quarter valued at approximately $218,000. Finally, James Investment Research Inc. acquired a new stake in TCF Financial in the fourth quarter valued at approximately $250,000. Hedge funds and other institutional investors own 85.32% of the company’s stock.

TCF Financial Company Profile

TCF Financial Corporation operates as the 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 deposits; and individual retirement accounts.

Analyst Recommendations for TCF Financial (NYSE:TCF)

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