TCF Financial Co. (TCF) Position Cut by Texas Permanent School Fund

Texas Permanent School Fund decreased its position in TCF Financial Co. (NYSE:TCF) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,593 shares of the bank’s stock after selling 4,586 shares during the period. Texas Permanent School Fund’s holdings in TCF Financial were worth $2,674,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of TCF Financial by 2.6% during the first 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 during the period. Dimensional Fund Advisors LP raised its holdings in shares of TCF Financial by 0.5% during the first 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 during the period. LSV Asset Management raised its holdings in shares of TCF Financial by 12.0% during the first 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 during the period. Van Berkom & Associates Inc. raised its holdings in shares of TCF Financial by 4.0% during the first 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 during the period. Finally, Millennium Management LLC raised its holdings in shares of TCF Financial by 15.4% during the first quarter. Millennium Management LLC now owns 2,876,587 shares of the bank’s stock valued at $65,615,000 after purchasing an additional 382,844 shares during the period. Institutional investors and hedge funds own 85.37% of the company’s stock.

TCF opened at $25.57 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.67. TCF Financial Co. has a fifty-two week low of $14.58 and a fifty-two week high of $27.34. The stock has a market capitalization of $4.35 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04.

TCF Financial (NYSE:TCF) last posted its earnings results on Friday, July 27th. The bank reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. TCF Financial had a net margin of 19.04% and a return on equity of 11.81%. The company had revenue of $364.90 million for the quarter, compared to analyst estimates of $361.56 million. During the same quarter in the prior year, the business posted $0.33 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. equities analysts forecast that TCF Financial Co. will post 1.84 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Wednesday, August 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.35%. TCF Financial’s dividend payout ratio is presently 50.00%.

In related news, Director Barry N. Winslow sold 12,000 shares of the company’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $25.99, for a total value of $311,880.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brian W. Maass sold 12,236 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $25.74, for a total transaction of $314,954.64. The disclosure for this sale can be found here. Insiders sold a total of 33,952 shares of company stock worth $873,524 in the last 90 days. 2.34% of the stock is currently owned by company insiders.

TCF has been the topic of several research reports. Raymond James upgraded shares of TCF Financial from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 29th. Barclays upped their price objective on shares of TCF Financial from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, April 11th. Morgan Stanley upped their price objective on shares of TCF Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, April 24th. ValuEngine upgraded shares of TCF Financial from a “buy” rating to a “strong-buy” rating in a report on Monday, April 23rd. Finally, BMO Capital Markets lowered shares of TCF Financial from an “outperform” rating to a “market perform” rating and set a $28.00 price objective on the stock. in a report on Thursday, June 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. TCF Financial currently has a consensus rating of “Hold” and a consensus price target of $25.71.

TCF Financial 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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Institutional Ownership by Quarter for TCF Financial (NYSE:TCF)

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