OppenheimerFunds Inc. increased its position in shares of TCF Financial Co. (NYSE:TCF) by 69.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,412 shares of the bank’s stock after acquiring an additional 16,184 shares during the period. OppenheimerFunds Inc.’s holdings in TCF Financial were worth $807,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. CNA Financial Corp acquired a new position in TCF Financial during the 4th quarter worth about $730,000. Schwab Charles Investment Management Inc. purchased a new stake in TCF Financial during the 3rd quarter worth about $18,682,000. JPMorgan Chase & Co. increased its holdings in TCF Financial by 12.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,274,734 shares of the bank’s stock worth $106,545,000 after purchasing an additional 676,834 shares during the period. Carlson Capital Management purchased a new stake in TCF Financial during the 4th quarter worth about $2,385,000. Finally, Disciplined Growth Investors Inc. MN purchased a new stake in TCF Financial during the 3rd quarter worth about $30,950,000. 84.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TCF Financial stock opened at $23.51 on Monday. TCF Financial Co. has a 1 year low of $14.58 and a 1 year high of $23.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $4,019.32, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.68 and a beta of 1.12.
TCF Financial (NYSE:TCF) last posted its quarterly earnings data on Tuesday, January 30th. The bank reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). TCF Financial had a return on equity of 9.85% and a net margin of 18.31%. The company had revenue of $362.75 million for the quarter, compared to analyst estimates of $355.48 million. equities analysts predict that TCF Financial Co. will post 1.7 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.55%. This is a boost from TCF Financial’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, February 14th. TCF Financial’s dividend payout ratio (DPR) is presently 41.67%.
Several equities research analysts have weighed in on TCF shares. Piper Jaffray Companies upgraded TCF Financial from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a report on Tuesday, November 28th. Sandler O’Neill upgraded TCF Financial from a “hold” rating to a “buy” rating in a report on Tuesday, November 28th. DA Davidson reiterated a “buy” rating and issued a $23.00 price objective on shares of TCF Financial in a report on Wednesday, November 29th. Jefferies Group reiterated a “hold” rating and issued a $21.00 price objective on shares of TCF Financial in a report on Friday, December 8th. Finally, ValuEngine upgraded TCF Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.67.
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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