Oppenheimer Maintains an 'Outperform' on TCF Financial (TCB); Risk/Reward Remains Attractive

Oppenheimer maintains an 'Outperform' on TCF Financial (NYSE: TCB) price target of $14.00.

Oppenheimer analyst said, "Management of TCF has taken steps to transition the company away from its dependency on the free checking product and the reinvention of TCF into the new banking world has been apparent in recent quarters. Expectations are low for 1Q12 deposit service charges and we see gains in the second quarter as modification to new products improves customer acceptance. While the investment community has been hyper-focused on consumer banking fees, we believe the expansion into specialty lending areas could be a positive boost to earnings later this year. With this bullish fundamental view on the company we see meaningful upside potential in TCF shares with the stock trading close to tangible book value."

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 $10.58 yesterday.

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