Keefe, Bruyette & Woods Updates Estimates On TCF Financial

According to Keefe, Bruyette & Woods, TCF Financial TCB earnings estimates are updated. Keefe, Bruyette & Woods said that it believes the Federal Reserve's final rule on debit card interchange fees represented a positive event for TCB as the cap rate of $0.24/transaction was above consensus expectations and well ahead of the Fed's previous proposal of $0.12/transaction. “Moreover, it provided much needed clarity and removed an overhang on the company's shares. TCB also indicated it requested a dismissal of its outstanding lawsuit related to Durbin.” TCF Financial closed yesterday at $13.80.