UPDATE: Stifel Nicolaus Downgrades TCF Financial Corporation to Hold on Valuation
January 31, 2013 at 11:19 AM EST
Stifel Nicolaus downgraded TCF Financial Corporation (NYSE: TCB ) from Buy to Hold and removed its $13.00 price target. Stifel Nicolaus commented, "TCB shares trade at 12.5x our 2013 EPS estimate and 157% of TBV versus the Midwest bank peer group median of 12.1x and 129%, respectively. We believe the
