TCF Financial: 3Q Earnings Snapshot
DETROIT (AP) _ TCF Financial Corporation (TCF) on Monday reported third-quarter profit of $55.7 million.
The Detroit-based bank said it had earnings of 35 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 63 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The financial holding company posted revenue of $539.3 million in the period. Its revenue net of interest expense was $496 million, which missed Street forecasts. Four analysts surveyed by Zacks expected $503.8 million.
TCF Financial shares have dropped 37% since the beginning of the year. In the final minutes of trading on Monday, shares hit $29.40, a fall of 22% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TCF at https://www.zacks.com/ap/TCF