TCF Financial Co. (TCF) Receives $25.53 Average Price Target from Analysts

TCF Financial Co. (NYSE:TCF) has received a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $25.53.

Several research firms recently issued reports on TCF. Zacks Investment Research lowered TCF Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. BMO Capital Markets reduced their price target on TCF Financial from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of TCF Financial in a research report on Tuesday, October 23rd. Raymond James reduced their price target on TCF Financial from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 23rd. Finally, Wells Fargo & Co set a $25.00 price target on TCF Financial and gave the company a “hold” rating in a research report on Tuesday, October 2nd.

TCF traded down $0.08 during mid-day trading on Thursday, hitting $21.29. 1,001,565 shares of the stock were exchanged, compared to its average volume of 1,570,300. TCF Financial has a 1-year low of $17.55 and a 1-year high of $27.34. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.99 and a beta of 1.08.

TCF Financial (NYSE:TCF) last posted its earnings results on Monday, October 22nd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. TCF Financial had a return on equity of 12.89% and a net margin of 20.22%. The firm had revenue of $365.57 million for the quarter, compared to analyst estimates of $367.63 million. During the same quarter in the prior year, the company earned $0.29 EPS. TCF Financial’s revenue was up 6.5% on a year-over-year basis. On average, research analysts forecast that TCF Financial will post 1.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.82%. TCF Financial’s payout ratio is currently 50.00%.

In other news, insider Thomas F. Jasper sold 77,725 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $25.69, for a total value of $1,996,755.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Scott Jones sold 50,000 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $25.70, for a total value of $1,285,000.00. The disclosure for this sale can be found here. Corporate insiders own 2.34% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its holdings in shares of TCF Financial by 6.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 38,053 shares of the bank’s stock valued at $937,000 after acquiring an additional 2,288 shares during the last quarter. Foundry Partners LLC grew its stake in TCF Financial by 0.3% during the 3rd quarter. Foundry Partners LLC now owns 856,616 shares of the bank’s stock worth $20,396,000 after buying an additional 2,432 shares during the last quarter. Aperio Group LLC grew its stake in TCF Financial by 4.5% during the 3rd quarter. Aperio Group LLC now owns 62,638 shares of the bank’s stock worth $1,491,000 after buying an additional 2,696 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in TCF Financial by 2.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 144,059 shares of the bank’s stock worth $3,547,000 after buying an additional 2,806 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in TCF Financial by 36.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 13,907 shares of the bank’s stock worth $331,000 after buying an additional 3,749 shares during the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.

About TCF Financial

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.

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Analyst Recommendations for TCF Financial (NYSE:TCF)

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