TCF Financial Corporation (NYSE:TCF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Shares of TCF Financial have outperformed the industry over the past six months. Yet, the company’s earnings surprise history is not impressive. It missed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Third-quarter results were affected by higher expenses and provisions, partially offset by rise in loans and deposits. TCF Financial’s revenues continue to be hurt by the consistently declining banking fees over the last few years. Also, mounting costs due to increasing staff level is expected to impact bottom line. However, increasing loans, strong deposit mix and easing margin pressure will likely to aid profitability. The company has been also benefiting from improving credit quality in consumer real estate portfolio and has witnessed enhanced profitability ratios as well, which keeps us encouraged.”

Several other equities research analysts also recently weighed in on the stock. DA Davidson raised shares of TCF Financial Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday. Barclays PLC boosted their target price on shares of TCF Financial Corporation from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. J P Morgan Chase & Co boosted their target price on shares of TCF Financial Corporation from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $18.00 target price on shares of TCF Financial Corporation in a research report on Sunday, October 29th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $20.00 price target on shares of TCF Financial Corporation in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.00.

TCF Financial Corporation (NYSE TCF) traded up $0.36 on Thursday, hitting $18.64. 990,164 shares of the stock traded hands, compared to its average volume of 1,146,154. The company has a market cap of $3,178.93, a P/E ratio of 16.23, a P/E/G ratio of 1.84 and a beta of 1.25. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

TCF Financial Corporation (NYSE:TCF) last released its earnings results on Friday, October 27th. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.02). The company had revenue of $343.30 million during the quarter, compared to the consensus estimate of $340.45 million. TCF Financial Corporation had a return on equity of 9.63% and a net margin of 15.27%. TCF Financial Corporation’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. analysts anticipate that TCF Financial Corporation will post 1.22 earnings per share for the current year.

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In other TCF Financial Corporation news, Director Barry N. Winslow purchased 12,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was acquired at an average cost of $25.00 per share, with a total value of $300,000.00. Following the acquisition, the director now owns 2,365 shares of the company’s stock, valued at approximately $59,125. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.50% of the company’s stock.

About TCF Financial Corporation

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 Corporation (NYSE:TCF)

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