Today’s big question for investors is, “what’s going on with TCF Financial Corporation (NASDAQ:TCF) stock? Its price is jumping 2.82 points, trading at $26.36 levels, and is up 11.98% from its previous close of $23.54. The shares seem to have an active trading volume day with a reported 328875 contracts so far this session. TCF shares had a relatively better volume day versus average trading capacity of 1.09 million shares, but with a 0 million float and a 28.28% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TCF stock indicates that the average analyst price target is $43.29 per share. This means the stock has a potential increase of 64.23% from where the TCF share price has been trading recently.
During the recent trading session for TCF Financial Corporation (NASDAQ:TCF), the company witnessed their stock rise $4.86 over a week and tumble down $-12.08 from the price 20 days ago. When compared to their established 52-week high of $47.46, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 12/26/19. The recent low of $16.96 stood for a -44.46% since 03/18/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.91 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for TCF Financial Corporation, the two-week RSI stands at 45.27. This figure suggests that TCF stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current TCF readings is similarly very revealing as it has a stochastic reading of 46.79% at this stage. This figure means that TCF share price today is being neutral.
Technical chart claims that TCF Financial Corporation (TCF) would settle between $24.97/share to $26.4/share level. However, if the stock price goes below the $21.62 mark, then the market for TCF Financial Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $19.7 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.07. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at UBS raised their recommendation on shares of TCF from Neutral to Buy in their opinion released on March 10. Janney analysts bumped their rating on TCF Financial Corporation (NASDAQ:TCF) stock from Neutral to Buy in a separate flash note issued to investors on March 02. Analysts at Janney lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to December 17.
TCF equity has an average rating of 2.29, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated TCF Financial Corporation (NASDAQ:TCF) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TCF stock price is currently trading at 5.36X forward 12-month Consensus EPS estimates, and its P/E ratio is 9.2 while for the average stock in the same group, the multiple is 9.4. TCF Financial Corporation current P/B ratio of 0.6 means it is trading at a discount against its industry’s 0.8.