Nationwide Fund Advisors decreased its stake in TCF Financial Co. (NYSE:TCF) by 2.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 555,380 shares of the bank’s stock after selling 16,535 shares during the quarter. Nationwide Fund Advisors’ holdings in TCF Financial were worth $9,464,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in TCF. ING Groep NV acquired a new position in shares of TCF Financial in the 2nd quarter valued at $332,000. NGAM Advisors L.P. boosted its position in shares of TCF Financial by 3.9% in the 2nd quarter. NGAM Advisors L.P. now owns 22,159 shares of the bank’s stock valued at $353,000 after purchasing an additional 838 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of TCF Financial in the 2nd quarter valued at $164,000. Great West Life Assurance Co. Can boosted its position in shares of TCF Financial by 0.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 103,640 shares of the bank’s stock valued at $1,651,000 after purchasing an additional 570 shares during the period. Finally, World Asset Management Inc boosted its position in shares of TCF Financial by 1.8% in the 2nd quarter. World Asset Management Inc now owns 10,519 shares of the bank’s stock valued at $168,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 82.34% of the company’s stock.
In other news, Director Barry N. Winslow purchased 12,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was bought at an average cost of $25.00 per share, with a total value of $300,000.00. Following the purchase, the director now directly owns 2,365 shares of the company’s stock, valued at $59,125. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.50% of the stock is owned by company insiders.
TCF Financial (NYSE:TCF) last announced its quarterly earnings data on Friday, October 27th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business had revenue of $343.30 million during the quarter, compared to analysts’ expectations of $340.45 million. TCF Financial had a return on equity of 9.63% and a net margin of 15.27%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. research analysts forecast that TCF Financial Co. will post 0.83 earnings per share 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. This represents a $0.30 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, November 14th. TCF Financial’s dividend payout ratio is currently 26.32%.
A number of equities analysts recently weighed in on the company. JMP Securities assumed coverage on TCF Financial in a research report on Thursday, August 31st. They issued a “mkt perform” rating for the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $20.00 price target on shares of TCF Financial in a research report on Friday, October 27th. Zacks Investment Research upgraded TCF Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $18.00 price objective on shares of TCF Financial in a research note on Sunday, October 29th. Finally, Piper Jaffray Companies set a $17.00 price objective on TCF Financial and gave the stock a “hold” rating in a research note on Friday, October 6th. One 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 stock currently has an average rating of “Hold” and an average target price of $19.08.
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TCF Financial 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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