Revenue Update on TCF Financial Corporation(NYSE:TCB)

TCF Financial Corporation(NYSE:TCB) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 22, 2016. Company reported revenue of $330.94M. Analysts estimated a revenue of $214.14M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.29.

In a different note, On Jul 7, 2016, JP Morgan said it Maintains its rating on TCF Financial Corporation. In the research note, the firm Lowers the price-target to $13.50 per share. The shares have been rated ‘Neutral’ by the firm.

TCF Financial Corporation (TCB) shares turned negative on Thursdays trading session with the shares closing down -0.08 points or -0.59% at a volume of 7,42,165. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.61. The peak price level was also seen at $13.61 while the days lowest was $13.45. Finally the shares closed at $13.53. The 52-week high of the shares is $16.82 while the 52-week low is $10.37. According to the latest information available, the market cap of the company is $2,314 M.

TCF Financial Corporation has also declared a cash dividend of $0.0750 on Jul 20, 2016. The shares will quote ex-dividend on Aug 11, 2016 and the record date has been fixed on Aug 15, 2016. The dividend payable date has been fixed on Sep 1, 2016.

Several Insider Transactions has been reported to the SEC. On Nov 30, 2015, William Allen Cooper (Chairman & CEO) sold 84,066 shares at $15.50 per share price.Also, On Nov 12, 2015, William F Bieber (director) sold 6,920 shares at $15.43 per share price.On Nov 10, 2015, Joseph T Green (SVP/General Counsel) purchased 5,000 shares at $15.36 per share price, according to the Form-4 filing with the securities and exchange commission.

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: Lending Funding and Support Services. Lending includes consumer real estate commercial real estate and business lending leasing and equipment finance inventory finance and auto finance. Funding includes branch banking and treasury services which includes the Company’s investment and borrowing portfolios and management of capital debt and market risks including interest rate and liquidity risks. Support Services includes Holding Company and corporate functions. TCF Bank’s subsidiaries principally engage in leasing inventory finance and auto finance activities. TCF delivers retail banking products in over 40 states; commercial leasing and equipment finance business in all 50 states; commercial inventory finance business in all 50 states and Canada and indirect auto finance business in all 50 states.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *