UBS Maintains a 'Buy' on TCF Financial (TCB); Short Term Pain In Fees Should Be Mitigated Over Time

UBS maintains a 'Buy' on TCF Financial (NYSE: TCB) price target lowered from $14 to $13.

UBS analyst says, "TCB reported 4Q11 EPS of $0.10; however, operating EPS totaled $0.07 netting out $0.02 of securities gains and $0.01 from auto loan sales. This compared with our $0.18 estimate and consensus of $0.15. Due to the material miss on fee income and credit, we are reducing ‘12E from $0.95 to $0.78 and ‘13E EPS from $1.30 to $1.27. Accordingly, our target is being reduced to $13."

For an analyst ratings summary and ratings history on TCF Financial click here. For more ratings news on TCF Financial click here.

Shares of TCF Financial closed at $10.57 yesterday, with a 52 week range of $8.61-$17.37.

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