THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, November 15, 1995 TAG: 9511150281
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 25 lines
Shares of TFC Enterprises Inc. fell 12 percent Tuesday after securities firm Robinson-Humphrey Co. Inc. cut its rating on the Norfolk-based finance company. TFC's shares fell 1 to 7 1/2 on Nasdaq trading of 325,100 shares, more than triple the daily average in the past three months. Robinson-Humphrey cut its rating on the shares to ``hold'' from ``buy'' and cited a slowdown in the growth rate TFC's loans and a decline in the credit quality of the company's loan portfolio. The brokerage firm also reduced its estimate of TFC's 1996 earnings to 80 cents a share from 90 cents. TFC, though its The Finance Company unit, buys and services auto and motorcycle loans to higher-risk borrowers. (Bloomberg Business News) by CNB