FBR Capital Reiterates a 'Market Perform' on TCF Financial (TCB); Durbin Steals the Show...Again
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Price: $16.86 -0.65%
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates a 'Market Perform' on TCF Financial (NYSE: TCB), PT $14.
FBR analyst says, "TCB is highly vulnerable to the impact of Reg-E and interchange regulation, while the company is in the middle of a lawsuit contesting the constitutionality of the Durbin amendment of the Dodd-Frank financial reform bill. While management is investing in incremental product areas to replace lost fee income, we remained concerned over whether those businesses will be able to offset the lost interchange fee income. We are adjusting our FY11 EPS estimate to $0.82 from $0.80 to take into account 1Q11 earnings and adjusting our FY12 EPS estimate to $1.15 from $1.25 due to lower fee and interest income."
For more ratings news on TCF Financial click here and for the rating history of TCF Financial click here.
Shares of TCF Financial closed at $15.32 yesterday.
FBR analyst says, "TCB is highly vulnerable to the impact of Reg-E and interchange regulation, while the company is in the middle of a lawsuit contesting the constitutionality of the Durbin amendment of the Dodd-Frank financial reform bill. While management is investing in incremental product areas to replace lost fee income, we remained concerned over whether those businesses will be able to offset the lost interchange fee income. We are adjusting our FY11 EPS estimate to $0.82 from $0.80 to take into account 1Q11 earnings and adjusting our FY12 EPS estimate to $1.15 from $1.25 due to lower fee and interest income."
For more ratings news on TCF Financial click here and for the rating history of TCF Financial click here.
Shares of TCF Financial closed at $15.32 yesterday.
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