TCF Financial: Q1 Earnings Snapshot
DETROIT (AP) _ TCF Financial Corporation (TCF) on Thursday reported first-quarter net income of $123.3 million.
The bank, based in Detroit, said it had earnings of 79 cents per share. Earnings, adjusted for non-recurring costs, were 84 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The financial holding company posted revenue of $537.7 million in the period. Its revenue net of interest expense was $513.9 million, also beating Street forecasts. Five analysts surveyed by Zacks expected $495.4 million.
TCF Financial shares have climbed 25% since the beginning of the year. The stock has more than doubled in the last 12 months.