Vanguard Group Inc. Has $374.12 Million Position in TCF Financial Co. (TCF)
Vanguard Group Inc. increased its holdings in TCF Financial Co. (NYSE:TCF) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,712,787 shares of the bank’s stock after purchasing an additional 298,763 shares during the quarter. Vanguard Group Inc. owned approximately 9.42% of TCF Financial worth $374,121,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Qube Research & Technologies Ltd acquired a new position in TCF Financial in the second quarter valued at $119,000. Commonwealth Bank of Australia acquired a new position in TCF Financial in the third quarter valued at $264,000. Paloma Partners Management Co acquired a new position in TCF Financial in the second quarter valued at $268,000. Verition Fund Management LLC acquired a new position in TCF Financial in the second quarter valued at $296,000. Finally, Zeke Capital Advisors LLC acquired a new position in TCF Financial in the third quarter valued at $313,000. 79.05% of the stock is currently owned by institutional investors.
TCF opened at $20.60 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.50. TCF Financial Co. has a fifty-two week low of $18.17 and a fifty-two week high of $27.34. The stock has a market capitalization of $3.42 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 0.91 and a beta of 1.15.
Several equities analysts have recently weighed in on TCF shares. Zacks Investment Research upgraded shares of TCF Financial from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Monday, December 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of TCF Financial in a report on Tuesday, October 23rd. Wells Fargo & Co upgraded shares of TCF Financial from a “market perform” rating to an “outperform” rating and set a $19.87 price objective on the stock in a report on Wednesday, January 2nd. Keefe, Bruyette & Woods upgraded shares of TCF Financial from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a report on Thursday, November 8th. Finally, BMO Capital Markets dropped their price objective on shares of TCF Financial from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. TCF Financial presently has an average rating of “Hold” and an average target price of $24.99.
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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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