Market Overview

UPDATE: Stifel Nicolaus Downgrades TCF Financial Corporation to Hold on Valuation

Related TCB
Earnings Scheduled For July 25, 2014
TCF Financial Shows Organic Growth Potential - Analyst Blog

Stifel Nicolaus downgraded TCF Financial Corporation (NYSE: TCB) from Buy to Hold and removed its $13.00 price target.

Stifel Nicolaus commented, "TCB shares trade at 12.5x our 2013 EPS estimate and 157% of TBV versus the Midwest bank peer group median of 12.1x and 129%, respectively. We believe the shares are deserving of some premium to the peer group considering the potential improvement in profitability in 2013 and outlook for good loan growth. However, following the recent run-up in the share price, TCB stock now trades essentially in line with our fair value estimate of around $13. We are therefore reducing our rating to Hold from Buy."

TCF Financial Corporation closed at $13.50 on Wednesday.

Latest Ratings for TCB

DateFirmActionFromTo
Jul 2014FBR CapitalMaintainsOutperform
Jul 2014JP MorganMaintainsNeutral
Jul 2014Raymond JamesUpgradesUnderperformMarket Perform

View More Analyst Ratings for TCB
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Downgrades Analyst Ratings

 

Related Articles (TCB)

Around the Web, We're Loving...

Get Benzinga's Newsletters