Piper Jaffray Companies Reiterates “$27.00” Price Target for TCF Financial (NYSE:TCF)

TCF Financial (NYSE:TCF) has been assigned a $27.00 price objective by stock analysts at Piper Jaffray Companies in a note issued to investors on Wednesday, May 8th, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the bank’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 41.66% from the stock’s current price. Piper Jaffray Companies also issued estimates for TCF Financial’s Q4 2019 earnings at $0.53 EPS, FY2019 earnings at $1.97 EPS, Q1 2020 earnings at $0.48 EPS, Q3 2020 earnings at $0.50 EPS and FY2020 earnings at $2.01 EPS.

A number of other brokerages have also weighed in on TCF. ValuEngine lowered TCF Financial from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Wells Fargo & Co set a $26.00 target price on TCF Financial and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Zacks Investment Research lowered TCF Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Sandler O’Neill raised TCF Financial from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Friday, February 8th. Finally, Raymond James raised TCF Financial from an “outperform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, January 29th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $26.82.

NYSE TCF opened at $19.06 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 0.97. TCF Financial has a 12-month low of $18.17 and a 12-month high of $27.34. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 1.22 and a beta of 1.24.

TCF Financial (NYSE:TCF) last released its quarterly earnings results on Monday, April 22nd. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $357.90 million for the quarter, compared to analysts’ expectations of $365.57 million. TCF Financial had a return on equity of 14.03% and a net margin of 18.41%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, equities research analysts forecast that TCF Financial will post 1.96 EPS for the current year.

In related news, SVP Susan D. Bode sold 10,975 shares of TCF Financial stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.58, for a total value of $236,840.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Stone Ridge Asset Management LLC lifted its holdings in TCF Financial by 336.5% in the fourth quarter. Stone Ridge Asset Management LLC now owns 109,974 shares of the bank’s stock worth $2,143,000 after acquiring an additional 84,780 shares during the last quarter. Citigroup Inc. raised its holdings in shares of TCF Financial by 52.4% during the fourth quarter. Citigroup Inc. now owns 230,370 shares of the bank’s stock valued at $4,489,000 after buying an additional 79,207 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of TCF Financial by 5.1% during the fourth quarter. Principal Financial Group Inc. now owns 1,785,832 shares of the bank’s stock valued at $34,806,000 after buying an additional 86,565 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of TCF Financial by 21.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 916,178 shares of the bank’s stock valued at $17,856,000 after buying an additional 162,511 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of TCF Financial by 16.1% during the fourth quarter. Meeder Asset Management Inc. now owns 97,568 shares of the bank’s stock valued at $1,901,000 after buying an additional 13,529 shares during the last quarter. 80.38% of the stock is currently owned by hedge funds and other institutional investors.

About TCF Financial

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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