The Manufacturers Life Insurance Company boosted its stake in TCF Financial Co. (NYSE:TCF) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 284,384 shares of the bank’s stock after acquiring an additional 32,467 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.17% of TCF Financial worth $5,830,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TCF. Aperio Group LLC boosted its holdings in TCF Financial by 7.3% in the 3rd quarter. Aperio Group LLC now owns 52,186 shares of the bank’s stock worth $889,000 after acquiring an additional 3,550 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of TCF Financial during the 3rd quarter valued at approximately $212,000. Victory Capital Management Inc. boosted its stake in shares of TCF Financial by 40.4% during the 3rd quarter. Victory Capital Management Inc. now owns 12,854 shares of the bank’s stock valued at $219,000 after buying an additional 3,698 shares during the last quarter. IndexIQ Advisors LLC boosted its stake in shares of TCF Financial by 83.0% during the 3rd quarter. IndexIQ Advisors LLC now owns 50,926 shares of the bank’s stock valued at $868,000 after buying an additional 23,105 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of TCF Financial by 110.0% during the 3rd quarter. Prudential Financial Inc. now owns 1,287,685 shares of the bank’s stock valued at $21,942,000 after buying an additional 674,360 shares during the last quarter. Hedge funds and other institutional investors own 84.91% of the company’s stock.
Several equities analysts have recently commented on the company. Barclays increased their target price on TCF Financial from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Jefferies Group reiterated a “hold” rating and set a $21.00 target price on shares of TCF Financial in a research note on Friday, December 8th. JPMorgan Chase & Co. cut TCF Financial from a “neutral” rating to an “underweight” rating and set a $22.00 target price for the company. in a research note on Wednesday, January 31st. 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 note on Tuesday, November 28th. Finally, DA Davidson reiterated a “buy” rating and set a $23.00 target price on shares of TCF Financial in a research note on Wednesday, November 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $21.67.
Shares of TCF Financial Co. (NYSE TCF) traded up $0.19 on Friday, reaching $23.51. The company had a trading volume of 3,508,602 shares, compared to its average volume of 1,405,203. TCF Financial Co. has a 52-week low of $14.58 and a 52-week high of $23.80. The company has a market capitalization of $3,986.84, a PE ratio of 16.33, a PEG ratio of 1.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.03 and a quick ratio of 1.03.
TCF Financial (NYSE:TCF) last announced its quarterly earnings data on Tuesday, January 30th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). TCF Financial had a return on equity of 9.85% and a net margin of 18.31%. The firm had revenue of $362.75 million for the quarter, compared to the consensus estimate of $355.48 million. sell-side analysts predict that TCF Financial Co. will post 1.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This is a boost from TCF Financial’s previous quarterly dividend of $0.08. This represents a $0.60 annualized dividend and a yield of 2.55%. TCF Financial’s dividend payout ratio (DPR) is 41.67%.
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TCF Financial Company 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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