TCF Financial (TCF) Given “Buy” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their buy rating on shares of TCF Financial (NYSE:TCF) in a research note released on Wednesday, January 31st. Royal Bank of Canada currently has a $25.00 price target on the bank’s stock.

Several other brokerages have also weighed in on TCF. Wells Fargo & Co lowered shares of TCF Financial from an outperform rating to a market perform rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. lowered shares of TCF Financial from a neutral rating to an underweight rating and set a $22.00 target price on the stock. in a research report on Wednesday, January 31st. Piper Jaffray Companies reiterated a buy rating and set a $25.00 target price on shares of TCF Financial in a research report on Tuesday, January 9th. ValuEngine upgraded shares of TCF Financial from a hold rating to a buy rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research raised shares of TCF Financial from a hold rating to a buy rating and set a $23.00 price target for the company in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. TCF Financial has an average rating of Hold and a consensus price target of $21.58.

TCF Financial (TCF) traded down $0.02 during midday trading on Wednesday, reaching $22.09. 43,635 shares of the company’s stock traded hands, compared to its average volume of 1,449,405. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. TCF Financial has a 52 week low of $14.58 and a 52 week high of $22.42. The firm has a market cap of $3,678.88, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from TCF Financial’s previous quarterly dividend of $0.08. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.72%. TCF Financial’s payout ratio is currently 20.83%.

In related news, Director Peter Bell sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $20.53, for a total transaction of $307,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of TCF. Zions Bancorporation acquired a new position in TCF Financial during the third quarter valued at approximately $116,000. Evercore Wealth Management LLC acquired a new position in shares of TCF Financial in the third quarter valued at approximately $128,000. Cerebellum GP LLC acquired a new position in shares of TCF Financial in the fourth quarter valued at approximately $128,000. Tower Research Capital LLC TRC boosted its holdings in shares of TCF Financial by 540.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,282 shares of the bank’s stock valued at $132,000 after buying an additional 6,988 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of TCF Financial in the third quarter valued at approximately $140,000. Hedge funds and other institutional investors own 82.89% of the company’s stock.

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TCF Financial Company Profile

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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