UBS Group Raises TCF Financial (NYSE:TCF) Price Target to $38.00

TCF Financial (NYSE:TCF) had its price objective lifted by UBS Group from $24.00 to $38.00 in a research report released on Monday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the bank’s stock.

Several other equities analysts also recently commented on the company. ValuEngine upgraded TCF Financial from a sell rating to a hold rating in a research report on Wednesday, May 1st. BMO Capital Markets started coverage on TCF Financial in a research report on Friday, August 2nd. They issued an outperform rating and a $51.00 target price for the company. JPMorgan Chase & Co. reiterated an overweight rating and issued a $47.00 target price on shares of TCF Financial in a research report on Friday, August 16th. Morgan Stanley increased their target price on TCF Financial from $22.50 to $45.00 and gave the company an equal weight rating in a research report on Monday, August 5th. Finally, Piper Jaffray Companies set a $27.00 target price on TCF Financial and gave the company a buy rating in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $32.83.

Shares of TCF stock opened at $38.43 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.64. TCF Financial has a twelve month low of $34.62 and a twelve month high of $58.56. The company has a market cap of $2.69 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.36 and a beta of 1.30. The business has a fifty day simple moving average of $28.46 and a 200 day simple moving average of $23.14.

TCF Financial (NYSE:TCF) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.07. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The business had revenue of $363.80 million during the quarter, compared to the consensus estimate of $365.47 million. During the same period in the prior year, the company earned $0.49 EPS. TCF Financial’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts anticipate that TCF Financial will post 1.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a $0.35 dividend. The ex-dividend date is Wednesday, August 14th. This is an increase from TCF Financial’s previous quarterly dividend of $0.15. This represents a $1.40 annualized dividend and a yield of 3.64%. TCF Financial’s dividend payout ratio (DPR) is currently 73.68%.

In other TCF Financial news, EVP Michael Scott Jones sold 40,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $19.58, for a total value of $783,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of TCF. Investors Research Corp acquired a new stake in shares of TCF Financial in the first quarter valued at about $25,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of TCF Financial in the second quarter valued at about $27,000. Northern Oak Wealth Management Inc. acquired a new stake in shares of TCF Financial in the first quarter valued at about $40,000. Cullen Frost Bankers Inc. acquired a new stake in shares of TCF Financial in the first quarter valued at about $41,000. Finally, Toronto Dominion Bank increased its stake in shares of TCF Financial by 14.8% in the first quarter. Toronto Dominion Bank now owns 3,693 shares of the bank’s stock valued at $76,000 after buying an additional 476 shares during the period. 80.46% of the stock is owned by institutional investors.

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.

Featured Story: What is the strike price in options trading?

Analyst Recommendations for TCF Financial (NYSE:TCF)

Receive News & Ratings for TCF Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCF Financial and related companies with MarketBeat.com's FREE daily email newsletter.