NEW YORK (TheStreet) -- Shares of TCF Financial (TCB) are increasing by 4.03% to $13.56 in afternoon trading on Friday, after the company reported better-than-expected fiscal 2016 second quarter results before Friday's market opened.
The Wayzata, MN-based bank holdings company posted earnings of 31 cents per share on revenue of $330.9 million. Analysts surveyed by Thomson Reuters projected earnings of 29 cents per share on revenue of $214.1 million.
Last year, TCF Financial reported earnings of 29 cents per share on revenue of $319.5 million.
"Despite the ongoing headwinds from the rate environment, we managed to sustain our loan yields and manage our deposit costs during the quarter," TCF Financial CEO Craig Dahl said in a statement.
The company noted that it added positive non-interest income in the second quarter from its national lending businesses.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate TCF FINANCIAL CORP as a Buy with a ratings score of B-. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and attractive valuation levels. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: TCB