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TCF Financial a Top Pick as Barclays shifts mid-cap bank ratings

Dec. 06, 2016 11:11 AM ETTCF Financial Corporation (TCF) StockSNV, TCF, FULT, CFR, SBNY, DCOM, BKU, CFGBy: Stephen Alpher, SA News Editor
  • "Above-average" asset-sensitivity, "outsize" potential benefits from deregulation, and a cheap valuation are behind analyst Matthew Keating making TCF Financial (TCB +0.8%) a Top Pick, replacing Signature Bank (SBNY +0.3%).
  • Upgraded to Overweight is BankUnited (BKU +1.9%), with Keating noting a valuation discount, but loan growth expectations nearly double that of peers.
  • Upgraded to Equalweight from Underweight is Synovus (SNV +0.4%).
  • Downgraded to Underweight are Dime Community (DCOM -7.2%) thanks to its liability sensitivity in a rising rate environment.
  • Also cut to Underweight is Investors Bancorp (ISBC -1.5%), with Keating also noting its liability sensitivity.
  • Also on the upgrade list: Cullen/Frost (CFR +1.1%).
  • Also on the downgrade list: Fulton Financial (FULT -0.3%).
  • Source: Bloomberg

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