trending Market Intelligence /marketintelligence/en/news-insights/trending/udzbczc3otb0FIEpEKcCBA2 content esgSubNav
In This List

Janney downgrades TCF Financial on valuation

Blog

Post-webinar Q&A: Speed and Scalability – Automation in Credit Risk Modeling

Case Study

A Chinese Bank Takes Steps to Minimize Risks as it Supports International Trade

Blog

Middle East Africa MA by the Numbers: Q3 2021

Blog

Banking Essentials Newsletter: November Edition 2021 - Part 2


Janney downgrades TCF Financial on valuation

Downgrade

Janney Montgomery Scott analyst John Rodis downgraded Detroit-based TCF Financial Corp. on valuation.

The company's shares are up about 20% quarter-to-date, outperforming its peers, which are only up about 9%, according to the analyst. Rodis expects a smooth transition following the announcement that the company's CFO will step down on Oct. 1, 2020.

The analyst downgraded the company's stock rating to "neutral" from "buy" and raised the fair value estimate to $49 from $46. His EPS estimates remained unchanged at $2.89 for 2019 and $4.01 for 2020.