FBR Capital Maintains an 'Outperform" on TFS Financial (TFSL); Strong Core Operations As MOU Gets Resolved

FBR Capital maintains an 'Outperform" on TFS Financial (NASDAQ: TFSL), PT $11.50.

FBR analyst says, "In our view, shares of TFSL are driven by both earnings potential and the prospect of aggressive capital management, as the company boasts a particularly strong TCE ratio of 16.1%. While the company still has an MOU from the OTS preventing it from second stepping, we believe that management has made significant progress in getting the MOU lifted and will look to second step once it does, providing an additional boost to shares."

"We expect valuation to improve once the MOU is lifted and the company has
the ability to aggressively manage capital and even second step. We are adjusting our FY11 EPS estimate to $0.02 from $0.03 and our FY12 estimate to $0.15 from $0.19."

For more ratings news on TFS Financial click here and for the rating history of TFS Financial click here.

Shares of TFS Financial closed at $10.08 yesterday.

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