TCF Financial (NYSE:TCF) had its price target dropped by Piper Sandler from $34.00 to $30.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Piper Sandler’s target price points to a potential upside of 28.42% from the company’s current price. Piper Sandler also issued estimates for TCF Financial’s Q4 2020 earnings at $0.58 EPS, Q1 2021 earnings at $0.53 EPS, Q2 2021 earnings at $0.68 EPS and Q4 2021 earnings at $0.71 EPS.
TCF has been the subject of several other research reports. Morgan Stanley cut their price objective on TCF Financial from $34.00 to $32.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Bank of America raised TCF Financial from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Monday, June 8th. Finally, TheStreet raised TCF Financial from a “c” rating to a “b-” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $36.70.
Shares of NYSE TCF opened at $23.36 on Tuesday. TCF Financial has a 12 month low of $16.96 and a 12 month high of $47.46. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.36 and a beta of 1.30. The business has a 50-day moving average of $26.19 and a 200-day moving average of $26.82.
TCF Financial (NYSE:TCF) last issued its quarterly earnings data on Monday, July 27th. The bank reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The company had revenue of $511.41 million during the quarter, compared to analyst estimates of $527.75 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. On average, analysts predict that TCF Financial will post 1.95 earnings per share for the current year.
In related news, EVP William S. Henak sold 21,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $27.34, for a total value of $574,140.00. Following the completion of the sale, the executive vice president now owns 168,923 shares in the company, valued at approximately $4,618,354.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Signaturefd LLC lifted its position in TCF Financial by 131.7% in the second quarter. Signaturefd LLC now owns 1,001 shares of the bank’s stock valued at $29,000 after purchasing an additional 569 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in TCF Financial by 9.2% in the second quarter. PNC Financial Services Group Inc. now owns 7,524 shares of the bank’s stock valued at $221,000 after purchasing an additional 637 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in TCF Financial by 2.7% in the second quarter. Commonwealth Equity Services LLC now owns 24,824 shares of the bank’s stock valued at $730,000 after purchasing an additional 654 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in TCF Financial by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 167,013 shares of the bank’s stock valued at $4,914,000 after purchasing an additional 665 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in TCF Financial by 39.8% in the second quarter. Parallel Advisors LLC now owns 2,650 shares of the bank’s stock valued at $77,000 after purchasing an additional 755 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.
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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