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Stock Market & Financial Investment News

News Breaks
April 22, 2014
08:05 EDTTCBTCF Financial reports Q1 EPS 24c, consensus 23c
Reports Q1 revenue $304.7M, consensus $200.44M. Reports Q1 provision for credit losses $14.5M. Reports Q1 non-accrual loans and leases of $266.7M. Reports Q1 loan and lease originations increased to $422.2M from Q1 last year. Reports Q1 average deposits increased to $483.9M from Q1 last year. The company said, "TCF’s Q1 results were positively impacted by the continuation of several key trends. Strong loan and lease originations and core deposit growth, decreased provision through continued credit quality improvement, and an industry-leading net interest margin more than offset the seasonal decline in banking fee revenue. In addition, TCF executed a significant expense reduction and efficiency initiative by completing the consolidation of 46 branches across our footprint late in Q1. As we continue to execute on our strategies and take advantage of opportunities, I believe we are well positioned to achieve strong returns for our stockholders.”
News For TCB From The Last 14 Days
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February 9, 2016
10:00 EDTTCBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ArcelorMittal (MT) upgraded to Neutral from Sell at Goldman... Electronic Arts (EA) upgraded to Buy from Neutral at Hilliard Lyons... First Interstate (FIBK) upgraded to Outperform from Market Perform at Fig Partners... Flagstar Bancorp (FBC) upgraded to Buy from Hold at Sandler O'Neill... Frontline (FRO) upgraded to Buy from Neutral at Clarksons Platou... Grifols (GRFS) upgraded to Buy from Hold at Berenberg... Grupo Financiero (GGAL) upgraded to Neutral from Underweight at JPMorgan... Kinross Gold (KGC) upgraded to Outperform from Neutral at Credit Suisse... Luxottica (LUX) upgraded to Hold from Underperform at Jefferies... PrivateBancorp (PVTB) upgraded on growth outlook at SunTrust... SS&C (SSNC) upgraded to Outperform from Market Perform at Raymond James... Salesforce (CRM) upgraded to Hold from Underperform at Jefferies... TCF Financial (TCB) upgraded to Neutral from Sell at Compass Point... TreeHouse (THS) upgraded to Overweight from Neutral at JPMorgan... WPX Energy (WPX) upgraded to Overweight from Equalweight at Capital One... Yelp (YELP) upgraded to Neutral from Sell at B. Riley.
06:32 EDTTCBTCF Financial upgraded to Neutral from Sell at Compass Point
Compass Point upgraded TCF Financial to Neutral and lowered its price target to $12.50 from $13. The firm's analyst said current valuation now reflects risks of low reserve levels, potential for higher deposit costs, and the overhang from the receipt of a NORA letter from the CFPB.
February 4, 2016
16:57 EDTTCBTCF Financial and New Albertson's enter into banking services agreement
TCF National Bank, the principal subsidiary of TCF Financial, and New Albertson's announced a new multi-year retail banking services agreement for Jewel-Osco grocery stores located in the Chicago area. TCF Bank is enhancing its retail branches, ATM footprint and online technologies. These include the addition of ATMs located in select parking lots of Jewel-Osco stores. In conjunction, TCF Bank will close 33 retail branches inside Jewel-Osco stores by the end of May and in their place install ATMs that feature advanced transaction capabilities. TCF expects to incur an immaterial one-time pre-tax charge to earnings in Q1 as a result of the changes related to the Jewel-Osco service agreement. When fully implemented in FY16, TCF expects the changes related to the agreement to result in a net positive economic impact within the year. The new agreement is in effect until 2021, with options for TCF to renew it.

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