Baird Financial Group Inc. grew its stake in TCF Financial Co. (NASDAQ:TCF) by 77.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,925 shares of the company’s stock after purchasing an additional 29,176 shares during the quarter. Baird Financial Group Inc.’s holdings in TCF Financial were worth $3,109,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp raised its position in shares of TCF Financial by 5.2% during the 1st quarter. Fifth Third Bancorp now owns 4,352 shares of the company’s stock valued at $202,000 after acquiring an additional 215 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of TCF Financial by 1.8% in the 4th quarter. Captrust Financial Advisors now owns 13,429 shares of the company’s stock worth $497,000 after buying an additional 235 shares during the last quarter. Cardinal Capital Management boosted its holdings in shares of TCF Financial by 0.6% in the 1st quarter. Cardinal Capital Management now owns 39,804 shares of the company’s stock valued at $1,849,000 after buying an additional 237 shares during the period. Arizona State Retirement System grew its position in shares of TCF Financial by 0.5% during the 1st quarter. Arizona State Retirement System now owns 44,389 shares of the company’s stock valued at $2,062,000 after buying an additional 241 shares during the last quarter. Finally, Private Capital Group LLC raised its stake in TCF Financial by 52.9% during the first quarter. Private Capital Group LLC now owns 702 shares of the company’s stock worth $33,000 after acquiring an additional 243 shares during the period. 81.40% of the stock is currently owned by institutional investors and hedge funds.
In other TCF Financial news, COO Thomas C. Shafer sold 66,969 shares of the stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $46.16, for a total transaction of $3,091,289.04. Following the completion of the transaction, the chief operating officer now directly owns 157,289 shares of the company’s stock, valued at approximately $7,260,460.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel W. Terpsma sold 4,000 shares of TCF Financial stock in a transaction on Thursday, May 13th. The shares were sold at an average price of $46.18, for a total value of $184,720.00. Following the transaction, the executive vice president now owns 38,324 shares in the company, valued at $1,769,802.32. The disclosure for this sale can be found here. Corporate insiders own 1.19% of the company’s stock.
TCF Financial (NASDAQ:TCF) last announced its earnings results on Thursday, April 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.10. TCF Financial had a return on equity of 7.80% and a net margin of 13.45%. The firm had revenue of $513.89 million for the quarter, compared to the consensus estimate of $495.38 million. Sell-side analysts anticipate that TCF Financial Co. will post 3.06 EPS for the current fiscal year.
Separately, Morgan Stanley upped their target price on TCF Financial from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, March 18th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $40.67.
TCF Financial Profile
TCF Financial Corporation operates as the financial holding company for TCF National Bank that provides various financial products and services in the United States and Canada. It operates through Consumer Banking, Commercial Banking, and Enterprise Services segments. The company offers checking, savings, and money market accounts; certificates of deposit; individual retirement accounts; debit and credit cards; and check cashing and remittance services.
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