Shares of TCF Financial Co. (NYSE:TCF) have received a consensus rating of “Hold” from the eighteen brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $25.60.
TCF has been the subject of several research reports. Zacks Investment Research cut TCF Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Bank of America raised TCF Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $25.00 to $30.00 in a research note on Thursday, September 6th. Wells Fargo & Co set a $25.00 target price on TCF Financial and gave the company a “hold” rating in a research note on Tuesday, October 2nd. Raymond James decreased their price objective on TCF Financial from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, October 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of TCF Financial in a research note on Tuesday, October 23rd.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd bought a new stake in TCF Financial during the second quarter worth about $119,000. AdvisorNet Financial Inc raised its holdings in TCF Financial by 391.1% during the second quarter. AdvisorNet Financial Inc now owns 7,582 shares of the bank’s stock worth $187,000 after acquiring an additional 6,038 shares in the last quarter. Paloma Partners Management Co bought a new stake in TCF Financial during the second quarter worth about $268,000. Commonwealth Bank of Australia bought a new stake in TCF Financial during the third quarter worth about $264,000. Finally, Verition Fund Management LLC bought a new stake in TCF Financial during the second quarter worth about $296,000. Institutional investors and hedge funds own 80.24% of the company’s stock.
TCF Financial (NYSE:TCF) last issued its quarterly earnings data on Monday, October 22nd. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. TCF Financial had a return on equity of 12.89% and a net margin of 20.22%. The firm had revenue of $365.57 million during the quarter, compared to the consensus estimate of $367.63 million. During the same quarter in the previous year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts predict that TCF Financial will post 1.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.67%. TCF Financial’s dividend payout ratio (DPR) 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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