Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of TCF Financial Co. (NYSE:TCF) by 55.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,982 shares of the bank’s stock after buying an additional 12,465 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in TCF Financial were worth $798,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of TCF Financial by 2.6% during the 1st quarter. BlackRock Inc. now owns 14,553,160 shares of the bank’s stock valued at $331,958,000 after purchasing an additional 363,186 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of TCF Financial by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,315,555 shares of the bank’s stock valued at $258,108,000 after purchasing an additional 52,633 shares in the last quarter. LSV Asset Management increased its holdings in shares of TCF Financial by 12.0% during the 1st quarter. LSV Asset Management now owns 3,546,264 shares of the bank’s stock valued at $80,890,000 after purchasing an additional 380,800 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in shares of TCF Financial by 4.0% during the 1st quarter. Van Berkom & Associates Inc. now owns 2,930,140 shares of the bank’s stock valued at $66,836,000 after purchasing an additional 112,772 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of TCF Financial during the 4th quarter valued at approximately $57,471,000. 85.16% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of TCF Financial from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday, April 5th. Sandler O’Neill reissued a “buy” rating and issued a $25.50 price target on shares of TCF Financial in a research note on Tuesday, March 27th. Royal Bank of Canada reissued a “buy” rating and issued a $27.00 price target on shares of TCF Financial in a research note on Tuesday, April 24th. ValuEngine cut shares of TCF Financial from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Barclays lifted their price target on shares of TCF Financial from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. TCF Financial currently has an average rating of “Hold” and an average price target of $24.75.
In other news, Director Peter Bell sold 9,716 shares of the business’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $25.39, for a total transaction of $246,689.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Barry N. Winslow sold 12,000 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $25.99, for a total transaction of $311,880.00. The disclosure for this sale can be found here. Insiders own 2.34% of the company’s stock.
TCF traded down $0.04 on Friday, hitting $24.62. 1,602,545 shares of the company’s stock were exchanged, compared to its average volume of 1,634,630. TCF Financial Co. has a fifty-two week low of $14.58 and a fifty-two week high of $27.34. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.15 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06.
TCF Financial (NYSE:TCF) last announced its quarterly earnings results on Monday, April 23rd. The bank reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $355.40 million for the quarter, compared to analysts’ expectations of $349.56 million. TCF Financial had a net margin of 19.62% and a return on equity of 10.86%. The company’s revenue was up 9.2% on a year-over-year basis. research analysts anticipate that TCF Financial Co. will post 1.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th were given a dividend of $0.15 per share. The ex-dividend date was Monday, May 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.44%. TCF Financial’s payout ratio is 50.00%.
TCF Financial Company Profile
TCF Financial Corporation operates as the holding company for TCF National Bank that provides various financial products and services in the United States and Canada. It operates through Consumer Banking, Wholesale Banking, and Enterprise Services segments. The company offers checking, savings, and money market accounts; certificates of deposits; and individual retirement accounts.
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