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Downgrade Alert for TCF Financial (TCB)

By Amy Schwartz

TCF Financial (NYSE:TCB) was downgraded from Outperform to Market Perform at FBR Capital today. The stock closed yesterday at $13.45 on volume of 2.0 million shares, above average daily volume of 1.2 million.

TCF Financial Corporation is a national multibank financial holding company. The Bank offers a variety of products and services including business equipment leasing, annuity, and brokerage services.

TCF Financial share prices have moved between a 52-week high of $17.29 and a 52-week low of $10.37 and closed yesterday at 30% above that low price at $13.45 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.4%.

There is potential upside of 22.7% for shares of TCF Financial based on a current price of $13.45 and an average consensus analyst price target of $16.50. The stock should find resistance at its 200-day moving average (MA) of $14.03, as well as support at its 50-day MA of $12.54.

SmarTrend is monitoring the recent change of momentum in TCF Financial. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of TCF Financial in search of a potential trend change.

Keywords: analyst upgrades/downgrades tcf financial

Ticker(s): TCB