TCF Financial’s (TCF) Hold Rating Reaffirmed at Jefferies Group

Jefferies Group reiterated their hold rating on shares of TCF Financial (NYSE:TCF) in a report released on Friday morning. They currently have a $21.00 target price on the bank’s stock. Jefferies Group also issued estimates for TCF Financial’s Q4 2017 earnings at ($0.15) EPS, FY2017 earnings at $1.24 EPS, Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $1.43 EPS and FY2019 earnings at $1.50 EPS.

TCF has been the topic of several other reports. JMP Securities assumed coverage on shares of TCF Financial in a report on Thursday, August 31st. They issued a mkt perform rating on the stock. Royal Bank Of Canada reiterated a buy rating and issued a $20.00 price objective on shares of TCF Financial in a report on Friday, October 27th. Zacks Investment Research upgraded shares of TCF Financial from a sell rating to a hold rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $18.00 price objective on shares of TCF Financial in a report on Sunday, October 29th. Finally, Piper Jaffray Companies set a $17.00 price objective on shares of TCF Financial and gave the company a hold rating in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $19.23.

TCF Financial (NYSE:TCF) traded down $0.01 during trading hours on Friday, hitting $20.46. 1,540,258 shares of the company’s stock traded hands, compared to its average volume of 1,476,343. TCF Financial has a 12-month low of $14.58 and a 12-month high of $21.29. The firm has a market capitalization of $3,519.46, a P/E ratio of 17.96, a P/E/G ratio of 3.00 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.04.

TCF Financial (NYSE:TCF) last released its quarterly earnings data on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.02). TCF Financial had a net margin of 15.27% and a return on equity of 9.63%. The company had revenue of $343.30 million during the quarter, compared to analyst estimates of $340.45 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. TCF Financial’s revenue for the quarter was up .4% on a year-over-year basis. equities research analysts expect that TCF Financial will post 0.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were paid a $0.075 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.47%. TCF Financial’s dividend payout ratio (DPR) is presently 26.32%.

In other TCF Financial news, Director Barry N. Winslow purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now owns 2,365 shares of the company’s stock, valued at approximately $59,125. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TCF. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in TCF Financial by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,487 shares of the bank’s stock worth $103,000 after buying an additional 580 shares in the last quarter. Zions Bancorporation acquired a new stake in TCF Financial during the third quarter worth about $116,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in TCF Financial during the third quarter worth about $432,000. Evercore Wealth Management LLC acquired a new stake in TCF Financial during the third quarter worth about $128,000. Finally, Ladenburg Thalmann Financial Services Inc. acquired a new stake in TCF Financial during the third quarter worth about $140,000. Institutional investors and hedge funds own 82.34% of the company’s stock.

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About TCF Financial

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: Consumer Banking, Wholesale Banking and Enterprise Services. Consumer Banking comprises all of the Company’s consumer-facing businesses.

Analyst Recommendations for TCF Financial (NYSE:TCF)

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