Sterne Agee Reiterates Buy Rating, $11 PT on TFS Financial Corporation

In a report published Wednesday, Sterne Agee Group reiterated its Buy rating and $11.00 price target on TFS Financial Corporation

. Sterne Agee noted, “Our thesis on TFSL is on track as the company's MOU was lifted by their bank subsidiary regulator, the OCC. While we are still waiting for the Fed to lift their MOU on the holding company, we believe shares are still undervalued trading at 74% of fully converted tangible book value at an offering price to TBV of 80%-85%.” TFS Financial Corporation closed on Monday at $9.22.