Bank of New York Mellon Corp cut its stake in shares of TCF Financial Co. (NYSE:TCF) by 1.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,869,937 shares of the bank’s stock after selling 40,033 shares during the period. Bank of New York Mellon Corp owned about 1.67% of TCF Financial worth $48,904,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in TCF Financial by 10.3% in the second quarter. Dimensional Fund Advisors LP now owns 10,678,575 shares of the bank’s stock worth $170,217,000 after acquiring an additional 1,001,493 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of TCF Financial by 21.1% in the second quarter. JPMorgan Chase & Co. now owns 5,597,900 shares of the bank’s stock worth $89,230,000 after buying an additional 976,868 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of TCF Financial by 110.0% in the third quarter. Prudential Financial Inc. now owns 1,287,685 shares of the bank’s stock worth $21,942,000 after buying an additional 674,360 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of TCF Financial in the second quarter worth $8,521,000. Finally, Citigroup Inc. lifted its stake in shares of TCF Financial by 133.2% in the second quarter. Citigroup Inc. now owns 771,010 shares of the bank’s stock worth $12,289,000 after buying an additional 440,358 shares during the last quarter. 82.34% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Barry N. Winslow bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now directly owns 2,365 shares in the company, valued at $59,125. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.50% of the stock is owned by corporate insiders.
A number of brokerages have recently weighed in on TCF. JMP Securities began coverage on shares of TCF Financial in a research note on Thursday, August 31st. They issued a “mkt perform” rating for the company. Royal Bank Of Canada restated a “buy” rating and issued a $20.00 price objective on shares of TCF Financial in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of TCF Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.00 price objective on shares of TCF Financial in a research note on Sunday, October 29th. Finally, Piper Jaffray Companies set a $17.00 price objective on shares of TCF Financial and gave the stock a “hold” rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. TCF Financial currently has an average rating of “Hold” and an average target price of $19.08.
TCF Financial Co. (NYSE TCF) traded up $0.40 during trading hours on Tuesday, reaching $20.74. 2,023,500 shares of the company traded hands, compared to its average volume of 1,563,352. The firm has a market cap of $3,497.10, a PE ratio of 17.84, a P/E/G ratio of 2.98 and a beta of 1.29. TCF Financial Co. has a 1 year low of $14.58 and a 1 year high of $21.29. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.
TCF Financial (NYSE:TCF) last released its earnings results on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.02). The company had revenue of $343.30 million for the quarter, compared to analyst estimates of $340.45 million. TCF Financial had a net margin of 15.27% and a return on equity of 9.63%. TCF Financial’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 earnings per share. research analysts forecast that TCF Financial Co. will post 0.83 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, November 14th. TCF Financial’s payout ratio is currently 26.32%.
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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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