Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in TCF Financial Co. (NYSE:TCF) by 25.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,070 shares of the bank’s stock after selling 11,345 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in TCF Financial were worth $811,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of TCF Financial by 149.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 23,731 shares of the bank’s stock worth $584,000 after purchasing an additional 14,222 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of TCF Financial by 200.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 121,668 shares of the bank’s stock worth $2,995,000 after purchasing an additional 81,123 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of TCF Financial by 11.5% in the 2nd quarter. New York State Teachers Retirement System now owns 269,476 shares of the bank’s stock worth $6,634,000 after purchasing an additional 27,800 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TCF Financial in the 2nd quarter worth approximately $4,162,000. Finally, IndexIQ Advisors LLC raised its holdings in shares of TCF Financial by 7.6% in the 2nd quarter. IndexIQ Advisors LLC now owns 95,897 shares of the bank’s stock worth $2,361,000 after purchasing an additional 6,761 shares in the last quarter. 79.09% of the stock is owned by institutional investors.
TCF has been the topic of a number of research reports. Raymond James dropped their target price on shares of TCF Financial from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of TCF Financial from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, October 10th. BMO Capital Markets dropped their target price on shares of TCF Financial from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Tuesday, October 23rd. Keefe, Bruyette & Woods upgraded shares of TCF Financial from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a report on Thursday, November 8th. Finally, Wells Fargo & Co set a $25.00 target price on shares of TCF Financial and gave the stock a “hold” rating in a report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.69.
TCF Financial (NYSE:TCF) last released its earnings results on Monday, October 22nd. The bank reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $365.57 million for the quarter, compared to the consensus estimate of $367.63 million. TCF Financial had a net margin of 20.22% and a return on equity of 12.89%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. On average, equities research analysts predict that TCF Financial Co. will post 1.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, November 14th. TCF Financial’s dividend payout ratio (DPR) is currently 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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