TIAA CREF Investment Management LLC boosted its holdings in TCF Financial Co. (NYSE:TCF) by 271.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,870,689 shares of the bank’s stock after acquiring an additional 1,367,517 shares during the period. TIAA CREF Investment Management LLC owned about 1.09% of TCF Financial worth $38,349,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of TCF Financial during the fourth quarter valued at approximately $128,000. Zions Bancorporation bought a new stake in shares of TCF Financial during the third quarter valued at approximately $116,000. Evercore Wealth Management LLC bought a new stake in shares of TCF Financial during the third quarter valued at approximately $128,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of TCF Financial during the third quarter valued at approximately $140,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of TCF Financial during the fourth quarter valued at approximately $190,000. 84.90% of the stock is currently owned by institutional investors.
TCF stock opened at $21.93 on Friday. TCF Financial Co. has a 12 month low of $14.58 and a 12 month high of $23.80. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.52. The company has a market cap of $3,860.33, a P/E ratio of 18.82, a P/E/G ratio of 1.62 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 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). TCF Financial had a net margin of 18.31% and a return on equity of 9.85%. The company had revenue of $362.75 million for the quarter, compared to analyst estimates of $355.48 million. research analysts expect that TCF Financial Co. will post 1.69 EPS for the current fiscal year.
The business 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Wednesday, February 14th. This is a positive change from TCF Financial’s previous quarterly dividend of $0.08. TCF Financial’s dividend payout ratio (DPR) is currently 41.67%.
A number of equities research analysts have recently weighed in on the company. Jefferies Group reaffirmed a “hold” rating on shares of TCF Financial in a report on Thursday, February 1st. Wells Fargo cut TCF Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 31st. Zacks Investment Research raised TCF Financial from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, January 2nd. UBS assumed coverage on TCF Financial in a report on Thursday. They set a “neutral” rating and a $24.00 price target on the stock. Finally, Barclays cut TCF Financial from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $23.00 to $22.00 in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. TCF Financial currently has an average rating of “Hold” and an average price target of $21.85.
TRADEMARK VIOLATION WARNING: “TIAA CREF Investment Management LLC Acquires 1,367,517 Shares of TCF Financial Co. (TCF)” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2018/03/24/tiaa-cref-investment-management-llc-acquires-1367517-shares-of-tcf-financial-co-tcf.html.
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.
Receive News & Ratings for TCF Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCF Financial and related companies with MarketBeat.com's FREE daily email newsletter.