TCF Financial Co. (NYSE:TCF) – Stock analysts at Piper Jaffray Companies decreased their Q2 2020 earnings per share estimates for shares of TCF Financial in a note issued to investors on Friday, September 13th. Piper Jaffray Companies analyst N. Race now expects that the bank will post earnings per share of $1.11 for the quarter, down from their prior estimate of $1.13. Piper Jaffray Companies currently has a “Buy” rating and a $52.00 price target on the stock. Piper Jaffray Companies also issued estimates for TCF Financial’s Q3 2020 earnings at $1.14 EPS, Q4 2020 earnings at $1.25 EPS and FY2020 earnings at $4.56 EPS.
TCF Financial (NYSE:TCF) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $365.47 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. TCF Financial’s revenue for the quarter was down .3% on a year-over-year basis.
Several other research firms have also issued reports on TCF. JPMorgan Chase & Co. reissued an “overweight” rating and set a $47.00 price target on shares of TCF Financial in a report on Friday, August 16th. BMO Capital Markets initiated coverage on TCF Financial in a report on Friday, August 2nd. They set an “outperform” rating and a $51.00 price target for the company. Morgan Stanley boosted their price target on TCF Financial from $22.50 to $45.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. UBS Group boosted their price target on TCF Financial from $24.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Finally, Raymond James set a $28.00 price target on TCF Financial and gave the company a “buy” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. TCF Financial presently has an average rating of “Buy” and a consensus price target of $35.36.
NYSE:TCF opened at $39.97 on Monday. The stock has a 50-day simple moving average of $37.61 and a two-hundred day simple moving average of $25.19. TCF Financial has a 52-week low of $34.62 and a 52-week high of $57.07. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $2.94 billion, a PE ratio of 21.04, a P/E/G ratio of 1.36 and a beta of 1.30.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $0.35 dividend. This is a positive change from TCF Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.40 dividend on an annualized basis and a yield of 3.50%. TCF Financial’s dividend payout ratio (DPR) is 73.68%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CNH Partners LLC purchased a new position in shares of TCF Financial in the 1st quarter valued at about $40,713,000. Water Island Capital LLC boosted its holdings in TCF Financial by 116.7% in the 2nd quarter. Water Island Capital LLC now owns 2,239,055 shares of the bank’s stock worth $46,550,000 after buying an additional 1,205,906 shares during the last quarter. Maltese Capital Management LLC boosted its holdings in shares of TCF Financial by 352.2% during the 2nd quarter. Maltese Capital Management LLC now owns 1,379,200 shares of the bank’s stock worth $28,674,000 after purchasing an additional 1,074,200 shares during the last quarter. Chicago Capital Management LLC boosted its holdings in shares of TCF Financial by 1,281.0% during the 2nd quarter. Chicago Capital Management LLC now owns 755,000 shares of the bank’s stock worth $15,696,000 after purchasing an additional 700,328 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of TCF Financial during the 2nd quarter worth approximately $10,390,000. Institutional investors and hedge funds own 80.46% of the company’s stock.
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.