LS Investment Advisors LLC acquired a new stake in shares of TCF Financial Co. (NYSE:TCF) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,317 shares of the bank’s stock, valued at approximately $375,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Aperio Group LLC lifted its holdings in shares of TCF Financial by 7.3% during the third quarter. Aperio Group LLC now owns 52,186 shares of the bank’s stock valued at $889,000 after acquiring an additional 3,550 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of TCF Financial by 40.4% during the third quarter. Victory Capital Management Inc. now owns 12,854 shares of the bank’s stock valued at $219,000 after acquiring an additional 3,698 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of TCF Financial by 0.7% during the third quarter. Ameriprise Financial Inc. now owns 584,600 shares of the bank’s stock valued at $9,961,000 after acquiring an additional 4,110 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of TCF Financial by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 251,578 shares of the bank’s stock valued at $4,010,000 after acquiring an additional 4,722 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of TCF Financial by 0.7% during the third quarter. Parametric Portfolio Associates LLC now owns 725,363 shares of the bank’s stock valued at $12,360,000 after acquiring an additional 5,251 shares during the period. 82.89% of the stock is owned by institutional investors.
TCF has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “buy” rating and set a $20.00 price objective on shares of TCF Financial in a report on Friday, October 27th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.00 price objective on shares of TCF Financial in a report on Sunday, October 29th. JPMorgan Chase & Co. lifted their price objective on TCF Financial from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Barclays lifted their price objective on TCF Financial from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Finally, DA Davidson raised TCF Financial from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. Two investment analysts have 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 company presently has a consensus rating of “Hold” and an average target price of $21.58.
In related news, Director Peter Bell sold 15,000 shares of TCF Financial stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $20.53, for a total value of $307,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.50% of the company’s stock.
TCF Financial Co. (TCF) opened at $22.25 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. TCF Financial Co. has a twelve month low of $14.58 and a twelve month high of $22.42. The stock has a market capitalization of $3,819.64, a PE ratio of 15.45, a P/E/G ratio of 1.59 and a beta of 1.21.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from TCF Financial’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, February 14th. TCF Financial’s payout ratio is currently 41.67%.
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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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