Van Berkom & Associates Inc. cut its position in TCF Financial Co. (NYSE:TCF) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,696,581 shares of the bank’s stock after selling 13,520 shares during the quarter. Van Berkom & Associates Inc. owned about 1.57% of TCF Financial worth $45,950,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in TCF. First Citizens Bank & Trust Co. grew its position in shares of TCF Financial by 31.3% in the second quarter. First Citizens Bank & Trust Co. now owns 20,826 shares of the bank’s stock valued at $332,000 after purchasing an additional 4,965 shares in the last quarter. ING Groep NV purchased a new position in TCF Financial during the second quarter worth about $332,000. Perkins Capital Management Inc. grew its position in TCF Financial by 13.4% during the second quarter. Perkins Capital Management Inc. now owns 19,000 shares of the bank’s stock worth $303,000 after buying an additional 2,250 shares in the last quarter. NGAM Advisors L.P. grew its position in TCF Financial by 3.9% during the second quarter. NGAM Advisors L.P. now owns 22,159 shares of the bank’s stock worth $353,000 after buying an additional 838 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in TCF Financial during the second quarter worth about $164,000. Institutional investors own 82.34% of the company’s stock.
In related news, Director Barry N. Winslow bought 12,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was bought at an average price of $25.00 per share, with a total value of $300,000.00. Following the purchase, the director now owns 2,365 shares in the company, valued at approximately $59,125. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.
TCF Financial Co. (NYSE:TCF) traded down $0.39 on Wednesday, hitting $20.35. The stock had a trading volume of 1,527,600 shares, compared to its average volume of 1,563,199. TCF Financial Co. has a 1 year low of $14.58 and a 1 year high of $21.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.04 and a quick ratio of 1.03. The stock has a market cap of $3,565.88, a PE ratio of 18.19, a P/E/G ratio of 3.04 and a beta of 1.29.
TCF Financial (NYSE:TCF) last posted its quarterly earnings data on Friday, October 27th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). TCF Financial had a return on equity of 9.63% and a net margin of 15.27%. The firm had revenue of $343.30 million during the quarter, compared to analysts’ expectations of $340.45 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. TCF Financial’s revenue for the quarter was up .4% compared to the same quarter last year. research analysts expect 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. Stockholders of record on Wednesday, November 15th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, November 14th. TCF Financial’s dividend payout ratio (DPR) is presently 26.32%.
Several equities analysts recently commented on the company. DA Davidson restated a “buy” rating and set a $23.00 target price on shares of TCF Financial in a research report on Wednesday, November 29th. Sandler O’Neill upgraded TCF Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, November 28th. Piper Jaffray Companies upgraded TCF Financial from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Tuesday, November 28th. Deutsche Bank boosted their target price on TCF Financial from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research cut TCF Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.08.
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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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