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

Janney downgrades TCF Financial on valuation

Video

According to Market Intelligence, February 2023

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks


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.