Neuberger Berman Group LLC Takes $34.56 Million Position in TCF Financial Co. (TCF)

Neuberger Berman Group LLC bought a new stake in shares of TCF Financial Co. (NYSE:TCF) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,028,014 shares of the bank’s stock, valued at approximately $34,557,000. Neuberger Berman Group LLC owned about 1.18% of TCF Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TCF. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TCF Financial by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,487 shares of the bank’s stock valued at $103,000 after purchasing an additional 580 shares during the last quarter. Zions Bancorporation bought a new position in TCF Financial in the 3rd quarter valued at $116,000. Evercore Wealth Management LLC bought a new position in TCF Financial in the 3rd quarter valued at $128,000. Tower Research Capital LLC TRC grew its position in TCF Financial by 540.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,282 shares of the bank’s stock valued at $132,000 after acquiring an additional 6,988 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. bought a new position in TCF Financial in the 3rd quarter valued at $140,000. 82.25% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have commented on TCF shares. Zacks Investment Research downgraded TCF Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Piper Jaffray Companies set a $17.00 target price on TCF Financial and gave the stock a “hold” rating in a report on Friday, October 6th. Royal Bank of Canada reiterated a “buy” rating and issued a $20.00 target price on shares of TCF Financial in a report on Friday, October 27th. Keefe, Bruyette & Woods restated a “hold” rating and set a $18.00 price objective on shares of TCF Financial in a research note on Sunday, October 29th. Finally, JPMorgan Chase & Co. upped their price objective on TCF Financial from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.85.

In related news, Director Peter Bell sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $20.53, for a total transaction of $307,950.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Shares of TCF Financial Co. (NYSE TCF) traded up $0.17 during trading hours on Friday, reaching $22.22. The company had a trading volume of 656,133 shares, compared to its average volume of 1,506,822. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.59. The firm has a market cap of $3,730.00, a price-to-earnings ratio of 19.66, a P/E/G ratio of 1.74 and a beta of 1.29. TCF Financial Co. has a 12 month low of $14.58 and a 12 month high of $22.29.

TCF Financial (NYSE:TCF) last announced its quarterly earnings data on Friday, October 27th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The firm had revenue of $343.30 million during 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%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. equities analysts predict that TCF Financial Co. will post 0.9 earnings per share for the current fiscal year.

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About TCF Financial

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.

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

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