Piper Sandler took its TCF Financial Corporation [TCF] rating to the equivalent of Overweight from Neutral, and the price target to $45, in a research note dated 2021-01-05. That figure represents around a 22.02% premium from where the company’s shares closed on Monday. Other analysts also revised their coverage, with BofA/Merrill’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in early June. Meanwhile, Wedbush had raised its rating on TCF to “an Outperform” from the earlier “Neutral”, in a research note produced for clients April 17, 2020. In addition, there was an upgrade from UBS on March 10, 2020. The rater changed TCF from “a Neutral” to “a Buy”.
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Is TCF Financial Corporation [NASDAQ:TCF] a Good Buy Right Now?
It should be noted that TCF technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from TCF Financial Corporation’s Trend Spotter indicated that the signals were Weakening. The stock current average is 1.89 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.28 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.99 million shares.
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TCF Price Performance
On Wall Street, TCF Financial Corporation [NASDAQ:TCF] finished Monday’s session down -0.38% at $36.88. The stock went up to $37.68 at the same session while its lowest single day price was $36.46. In the last five days, it saw a rise of about 1.85%, TCF Financial Corporation shares dropped by almost -0.38% since the beginning of the year. However, the share price has dropped to as low as -21.73% below its one year high. On 01/04/21, the company shares recorded $37.68, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $36.46. The company’s shares have declined by -20.55% in the past year. The 50-day SMA achieved is $33.48 while the 200-day SMA is $28.53. Volume gained to 1.2 million from 0.9 million in the previous session.
TCF Financial Corporation [TCF] Valuation Measures
Notably, TCF Financial Corporation [TCF] stock cannot be classified as a good candidate in the listing of underestimated low-priced Banks – Regional companies to purchase soonest possible with the prevailing 12-month PE ratio of 24.04. The measure means the stock is exchanging at a premium as compared to the 11.41x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 3.01 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.36 which means TCF serve an unattractive investment opportunity compared to its competitors.
TCF Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 36.33 level, and in case of violation of this particular level, it will cause more drop to 35.79 level. On the upper level, 38.23 is still the key resistance. The stock may increase to the subsequent resistance at 37.55. The Relative Strength Index (RSI) pinned on the 14-day chart is 59.40, implying a neutral technical stance while the MACD stands at 0.38, meaning price will decrease in the next trading period. Percent R indicator moved to 52.92%, implying low price movement. Stochastic %K at 60.19% suggest selling the stock.
What is the short interest in TCF Financial Corporation?
Short interest in the TCF Financial Corporation stock has surged, increasing by 0.78 million shares to total 3.43 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.21 million, data from Yahoo Finance shows. The decrease of -22.74% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.27% of the overall float for the stock.
TCF Financial Corporation’s Biggest Shareholders: Who Owns TCF Financial Corporation [TCF]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 14,057,138 shares or roughly 9.22% of the outstanding TCF shares. This means their shares have reduced by -535,882 from the 14,057,138 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $451,069,685. Details in the latest 13F filings reveal that Dimensional Fund Advisors LP acquired their 0.12% stake valued at $219,164,870 while Fuller & Thaler Asset Management, added theirs at $190,337,851. During the last quarter, Dimensional Fund Advisors LP raised 8,051 of its shares in TCF Financial Corporation while Fuller & Thaler Asset Management, bought 1,126,756 shares. The Victory Capital Management, Inc.’s holdings currently number 5,467,901 shares at $201656188.88. According to the firm’s last 13F report, Cooke & Bieler LP shares in the company at filing stood at 4,484,734 shares, roughly $150,687,062.
TCF Earnings Forecast For The Current Quarter
TCF Financial Corporation [TCF] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $503.8M and an earnings per share of $0.69 for Dec 2020. Looking further ahead, the company is expected to report revenue of $501.3M at an EPS of $0.66 for Mar 2021. The estimates represent downside of -1.50% and 19.17% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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TCF Earnings Estimates For The Current Year
For the financial year, TCF Financial Corporation [NASDAQ:TCF] is expected to bring in revenue of $2.05B. The returns are nearly $300.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.33, lower than that of FY19 by -$1.71. Estimates put this year’s earnings growth at -42.30%, 18.90% for the next, and at an annual -2.70% over the next 5-year period. As for sales, forecasts are for an increase of 17.10% in the current fiscal year and a further -1.50% over the following year.
