TCF Financial volatility low as shares remain in tight trading range
TCF Financial closed at $12.65. BMO Capital Markets say's "Unknown impact of potential legislation limiting consumer deposit fees will remain an overhang on the stock." TCB November option implied volatility is at 41, December is at 42 and January is at 44; verses its 26-week average of 52, according to Track Data, suggesting decreasing price movement. :theflyonthewall.com
News For TCB From The Last 14 Days
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TCF Financial: Durbin Amendment cost $15M in lost revenue per quarter
The company doesn't see a silver bullet, but mitigation is expected throughout 2012 through other revenues and expense reductions. The magnitude and speed of mitigation is driven by the competitive landscape and customers adapting to the new checking account product offering. Comments taken from slides from Credit Suisse Financial Services Forum. :theflyonthewall.com
Midcap Banks downgraded to In-Line from Accumulate at Morgan Stanley
Morgan Stanley downgraded the Midcap Bank sector due to valuations and lower asset yields. Note the firm downgraded TCF Financial (TCB) to Equal-Weight from Overweight. :theflyonthewall.com
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