Arizona State Retirement System increased its stake in shares of TCF Financial Co. (NYSE:TCF) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,722 shares of the bank’s stock after acquiring an additional 652 shares during the quarter. Arizona State Retirement System owned approximately 0.07% of TCF Financial worth $2,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in TCF Financial by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 15,712,787 shares of the bank’s stock worth $374,121,000 after acquiring an additional 298,763 shares during the last quarter. Vanguard Group Inc grew its position in TCF Financial by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 15,712,787 shares of the bank’s stock worth $374,121,000 after acquiring an additional 298,763 shares during the last quarter. BlackRock Inc. grew its position in TCF Financial by 1.2% during the 3rd quarter. BlackRock Inc. now owns 14,737,744 shares of the bank’s stock worth $350,906,000 after acquiring an additional 181,386 shares during the last quarter. LSV Asset Management grew its position in TCF Financial by 1.6% during the 3rd quarter. LSV Asset Management now owns 3,840,764 shares of the bank’s stock worth $91,448,000 after acquiring an additional 61,612 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in TCF Financial by 15.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,515,916 shares of the bank’s stock worth $59,903,000 after acquiring an additional 343,622 shares during the last quarter. Institutional investors and hedge funds own 79.14% of the company’s stock.
Several equities analysts recently issued reports on TCF shares. Raymond James reduced their price target on TCF Financial from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of TCF Financial in a research report on Tuesday, October 23rd. BMO Capital Markets cut their price objective on TCF Financial from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 23rd. Zacks Investment Research lowered TCF Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Keefe, Bruyette & Woods upgraded TCF Financial from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a research report on Thursday, November 8th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $26.00.
Shares of TCF stock opened at $22.60 on Tuesday. The company has a market capitalization of $3.77 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.14 and a beta of 1.22. TCF Financial Co. has a fifty-two week low of $18.17 and a fifty-two week high of $27.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 0.99.
TCF Financial (NYSE:TCF) last issued its quarterly earnings data on Monday, January 28th. The bank reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. The firm had revenue of $377.02 million for the quarter, compared to analyst estimates of $367.53 million. TCF Financial had a return on equity of 14.00% and a net margin of 18.87%. During the same period last year, the company earned $0.28 EPS. Research analysts forecast that TCF Financial Co. will post 1.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a $0.15 dividend. The ex-dividend date is Thursday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.65%. TCF Financial’s dividend payout ratio is currently 31.58%.
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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