TCF Financial Co. (TCF) Stake Lessened by US Bancorp DE
US Bancorp DE decreased its position in TCF Financial Co. (NYSE:TCF) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,179 shares of the bank’s stock after selling 3,229 shares during the quarter. US Bancorp DE’s holdings in TCF Financial were worth $1,243,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TCF. Millennium Management LLC grew its stake in shares of TCF Financial by 68.0% in the 2nd quarter. Millennium Management LLC now owns 4,831,359 shares of the bank’s stock worth $118,948,000 after acquiring an additional 1,954,772 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of TCF Financial in the 3rd quarter worth $11,256,000. LSV Asset Management grew its stake in shares of TCF Financial by 6.6% in the 2nd quarter. LSV Asset Management now owns 3,779,152 shares of the bank’s stock worth $93,042,000 after acquiring an additional 232,888 shares in the last quarter. KBC Group NV grew its stake in shares of TCF Financial by 1,270.9% in the 2nd quarter. KBC Group NV now owns 189,935 shares of the bank’s stock worth $4,676,000 after acquiring an additional 176,080 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TCF Financial in the 2nd quarter worth $4,162,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.
Several research firms have recently issued reports on TCF. Zacks Investment Research upgraded shares of TCF Financial from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Wednesday, August 8th. Sandler O’Neill reiterated a “buy” rating and issued a $29.00 target price on shares of TCF Financial in a research note on Friday, July 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of TCF Financial in a research note on Tuesday, October 23rd. Bank of America upgraded shares of TCF Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $25.00 to $30.00 in a research note on Thursday, September 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $26.00 target price on shares of TCF Financial in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. TCF Financial currently has an average rating of “Hold” and a consensus price target of $25.53.
Shares of NYSE:TCF opened at $21.78 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $3.70 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.02 and a beta of 1.08. TCF Financial Co. has a fifty-two week low of $18.27 and a fifty-two week high of $27.34.
TCF Financial (NYSE:TCF) last issued its quarterly earnings results on Monday, October 22nd. The bank reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $365.57 million for the quarter, compared to the consensus estimate of $367.63 million. TCF Financial had a net margin of 20.22% and a return on equity of 12.89%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. On average, analysts expect that TCF Financial Co. will post 1.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, November 14th. TCF Financial’s dividend payout ratio (DPR) is currently 50.00%.
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About TCF Financial
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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