TCF Financial (TCB) Undervalued - Oppenheimer
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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: 11 | New: 14
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Oppenheimer reiterated an Outperform rating on TCF Financial (NYSE: TCB) and maintained a price target of $14.00.
"TCF Financial has worked hard to transform its business with the strategy to expand into more national specialized lending areas visible in recent quarters. We are comfortable with the credit outlook today for these new loans and would point out how well they performed in ’08-’10," said analyst Terry McEvoy.
"Funding these assets with core deposits brings together the old banking model with this new strategy. The recent rollout of free checking appears to have stopped the outflow of customers. With the retail banking platform stabilizing and specialized lending expanding, we feel shares of TCF are undervalued," added McEvoy.
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 $11.58 yesterday.
"TCF Financial has worked hard to transform its business with the strategy to expand into more national specialized lending areas visible in recent quarters. We are comfortable with the credit outlook today for these new loans and would point out how well they performed in ’08-’10," said analyst Terry McEvoy.
"Funding these assets with core deposits brings together the old banking model with this new strategy. The recent rollout of free checking appears to have stopped the outflow of customers. With the retail banking platform stabilizing and specialized lending expanding, we feel shares of TCF are undervalued," added McEvoy.
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 $11.58 yesterday.
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