Quantitative Systematic Strategies LLC Buys New Holdings in TCF Financial Co. (TCF)
Quantitative Systematic Strategies LLC bought a new position in TCF Financial Co. (NYSE:TCF) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 15,682 shares of the bank’s stock, valued at approximately $321,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TCF. Zions Bancorporation bought a new position in TCF Financial in the 3rd quarter worth $116,000. Evercore Wealth Management LLC bought a new position in TCF Financial in the 3rd quarter worth $128,000. Cerebellum GP LLC bought a new position in TCF Financial in the 4th quarter worth $128,000. Tower Research Capital LLC TRC raised its holdings in TCF Financial by 540.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,282 shares of the bank’s stock worth $132,000 after acquiring an additional 6,988 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. bought a new position in shares of TCF Financial during the 3rd quarter worth about $140,000. Hedge funds and other institutional investors own 82.61% of the company’s stock.
TCF has been the topic of several research reports. ValuEngine upgraded shares of TCF Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. DA Davidson restated a “buy” rating and set a $23.00 price objective on shares of TCF Financial in a report on Wednesday, November 29th. Sandler O’Neill upgraded shares of TCF Financial from a “hold” rating to a “buy” rating in a report on Tuesday, November 28th. Zacks Investment Research upgraded shares of TCF Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, November 1st. Finally, Royal Bank of Canada restated a “buy” rating and set a $20.00 price objective on shares of TCF Financial in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. TCF Financial currently has a consensus rating of “Hold” and a consensus price target of $20.92.
Shares of TCF Financial Co. (TCF) opened at $20.50 on Friday. The firm has a market cap of $3,650.00, a PE ratio of 18.14, a P/E/G ratio of 1.54 and a beta of 1.21. TCF Financial Co. has a 52 week low of $14.58 and a 52 week high of $22.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.93%. This is a boost from TCF Financial’s previous quarterly dividend of $0.08. TCF Financial’s payout ratio is presently 26.55%.
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TCF Financial Profile
TCF Financial Corporation (TCF) is a bank holding company. The Company’s principal subsidiary is TCF National Bank (TCF Bank). The Company operates in three segments: Consumer Banking, Wholesale Banking and Enterprise Services. Consumer Banking comprises all of the Company’s consumer-facing businesses.
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