Cambiar Investors LLC cut its position in shares of TCF Financial Co. (NYSE:TCF) by 49.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 60,998 shares of the bank’s stock after selling 59,314 shares during the period. Cambiar Investors LLC’s holdings in TCF Financial were worth $2,322,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cibc World Markets Corp bought a new stake in shares of TCF Financial during the second quarter valued at approximately $4,341,000. Toronto Dominion Bank boosted its position in shares of TCF Financial by 38.5% during the second quarter. Toronto Dominion Bank now owns 5,114 shares of the bank’s stock valued at $112,000 after purchasing an additional 1,421 shares in the last quarter. Swiss National Bank raised its stake in TCF Financial by 0.4% during the second quarter. Swiss National Bank now owns 289,900 shares of the bank’s stock valued at $6,027,000 after buying an additional 1,100 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in TCF Financial by 46.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 375,898 shares of the bank’s stock valued at $7,815,000 after buying an additional 119,843 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in TCF Financial by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,172,605 shares of the bank’s stock valued at $24,379,000 after buying an additional 35,506 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.
Shares of NYSE:TCF opened at $36.75 on Friday. The stock has a fifty day simple moving average of $38.39 and a two-hundred day simple moving average of $27.74. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.36 and a beta of 1.30. TCF Financial Co. has a 12-month low of $34.62 and a 12-month high of $50.04. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.64.
TCF Financial (NYSE:TCF) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.07. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The firm had revenue of $363.80 million during the quarter, compared to analysts’ expectations of $365.47 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts predict that TCF Financial Co. will post 1.95 EPS for the current year.
A number of research analysts have issued reports on the company. Morgan Stanley lowered their price objective on TCF Financial from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Piper Jaffray Companies set a $52.00 price objective on TCF Financial and gave the company a “buy” rating in a research note on Friday, September 13th. Wells Fargo & Co lowered their price objective on TCF Financial from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. UBS Group lifted their price objective on TCF Financial from $24.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $47.00 price objective on shares of TCF Financial in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. TCF Financial currently has an average rating of “Buy” and a consensus price target of $37.45.
About TCF Financial
TCF Financial Corporation operates as the bank 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 deposit; and individual retirement accounts.
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