Bank of America Corp DE trimmed its stake in TCF Financial Co. (NYSE:TCF) by 13.9% during the second quarter, HoldingsChannel.com reports. The fund owned 380,964 shares of the bank’s stock after selling 61,574 shares during the quarter. Bank of America Corp DE’s holdings in TCF Financial were worth $9,379,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Capital Fund Management S.A. bought a new stake in TCF Financial in the second quarter valued at $3,287,000. Natixis bought a new stake in TCF Financial in the second quarter valued at $1,322,000. Voya Investment Management LLC grew its position in TCF Financial by 7.7% in the second quarter. Voya Investment Management LLC now owns 357,569 shares of the bank’s stock valued at $8,803,000 after acquiring an additional 25,548 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of TCF Financial during the second quarter worth $635,000. Finally, Raymond James & Associates bought a new stake in shares of TCF Financial during the second quarter worth $554,000. Hedge funds and other institutional investors own 81.39% of the company’s stock.

Shares of TCF opened at $22.89 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.67. TCF Financial Co. has a 12-month low of $16.87 and a 12-month high of $27.34. The firm has a market cap of $3.99 billion, a PE ratio of 19.08, a PEG ratio of 1.12 and a beta of 1.01.

TCF Financial (NYSE:TCF) last issued its quarterly earnings results on Friday, July 27th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. TCF Financial had a return on equity of 11.81% and a net margin of 19.04%. The business had revenue of $364.90 million for the quarter, compared to analyst estimates of $361.56 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts anticipate that TCF Financial Co. will post 1.82 EPS for the current fiscal year.

In other news, EVP Michael Scott Jones sold 50,000 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $25.70, for a total transaction of $1,285,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian W. Maass sold 12,236 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $25.74, for a total value of $314,954.64. The disclosure for this sale can be found here. Insiders have sold 139,961 shares of company stock worth $3,596,710 in the last ninety days. 2.34% of the stock is currently owned by insiders.

TCF has been the topic of several research analyst reports. Morgan Stanley increased their target price on TCF Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded TCF Financial from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, October 10th. ValuEngine cut TCF Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Wells Fargo & Co set a $25.00 target price on TCF Financial and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Finally, Jefferies Financial Group restated a “hold” rating and set a $26.00 target price on shares of TCF Financial in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. TCF Financial presently has a consensus rating of “Hold” and a consensus target price of $25.81.

TCF Financial Profile

TCF Financial Corporation operates as the holding company for TCF National Bank that provides various financial products and services in the United States and Canada. It operates through Consumer Banking, Wholesale Banking, and Enterprise Services segments. The company offers checking, savings, and money market accounts; certificates of deposits; and individual retirement accounts.

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Institutional Ownership by Quarter for TCF Financial (NYSE:TCF)

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