TCF Financial (TCF) Shares Gap Up to $20.34

Shares of TCF Financial Co. (NYSE:TCF) gapped up prior to trading on Tuesday . The stock had previously closed at $19.92, but opened at $20.34. TCF Financial shares last traded at $20.74, with a volume of 2023500 shares trading hands.

Several analysts have recently commented on the company. Zacks Investment Research downgraded TCF Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $19.00 target price on shares of TCF Financial in a research note on Friday, September 8th. DA Davidson restated a “buy” rating and issued a $23.00 target price on shares of TCF Financial in a research note on Wednesday, November 29th. Barclays raised their target price on TCF Financial from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, Sandler O’Neill raised shares of TCF Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $19.08.

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.04 and a quick ratio of 1.03. The stock has a market capitalization of $3,497.10, a price-to-earnings ratio of 17.84, a P/E/G ratio of 2.98 and a beta of 1.29.

TCF Financial (NYSE:TCF) last posted its quarterly earnings results on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). TCF Financial had a return on equity of 9.63% and a net margin of 15.27%. The company had revenue of $343.30 million during the quarter, compared to the consensus estimate of $340.45 million. During the same period last year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. analysts expect that TCF Financial Co. will post 0.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were paid a $0.075 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.47%. TCF Financial’s dividend payout ratio is 26.32%.

In other TCF Financial news, Director Barry N. Winslow acquired 12,000 shares of TCF Financial stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 2,365 shares of the company’s stock, valued at $59,125. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of TCF Financial by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 72,200 shares of the bank’s stock worth $1,151,000 after acquiring an additional 1,100 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of TCF Financial by 2.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,034 shares of the bank’s stock worth $208,000 after acquiring an additional 255 shares during the last quarter. Prudential Financial Inc. lifted its holdings 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 worth $21,942,000 after acquiring an additional 674,360 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of TCF Financial by 46.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 65,251 shares of the bank’s stock worth $1,040,000 after acquiring an additional 20,839 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of TCF Financial by 0.8% during the 2nd quarter. Comerica Bank now owns 594,882 shares of the bank’s stock worth $9,453,000 after acquiring an additional 4,811 shares during the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

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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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