Robeco Institutional Asset Management B.V. raised its stake in TCF Financial Co. (NYSE:TCF) by 100.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,202 shares of the bank’s stock after buying an additional 21,601 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in TCF Financial were worth $1,046,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in shares of TCF Financial by 18.3% in the third quarter. First Trust Advisors LP now owns 454,565 shares of the bank’s stock worth $10,823,000 after purchasing an additional 70,440 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of TCF Financial by 17.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 753,667 shares of the bank’s stock worth $17,945,000 after purchasing an additional 112,740 shares during the last quarter. Three Peaks Capital Management LLC raised its stake in shares of TCF Financial by 75.1% in the third quarter. Three Peaks Capital Management LLC now owns 92,396 shares of the bank’s stock worth $2,200,000 after purchasing an additional 39,616 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of TCF Financial in the third quarter worth approximately $428,000. Finally, First Citizens Bank & Trust Co. raised its stake in shares of TCF Financial by 36.9% in the third quarter. First Citizens Bank & Trust Co. now owns 13,907 shares of the bank’s stock worth $331,000 after purchasing an additional 3,749 shares during the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.
In other news, insider Thomas F. Jasper sold 77,725 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $25.69, for a total value of $1,996,755.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Scott Jones sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $25.70, for a total value of $1,285,000.00. The disclosure for this sale can be found here. Corporate insiders own 2.34% of the company’s stock.
Several analysts have recently commented on TCF shares. Morgan Stanley increased their price objective on TCF Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 31st. Raymond James lowered 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. Zacks Investment Research raised TCF Financial from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, October 10th. BMO Capital Markets lowered their price objective on TCF Financial from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, October 23rd. Finally, Wells Fargo & Co set a $25.00 price objective on TCF Financial and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $25.47.
TCF stock opened at $21.85 on Wednesday. The company has a market capitalization of $3.57 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 0.99 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.98. TCF Financial Co. has a 12-month low of $17.55 and a 12-month high of $27.34.
TCF Financial (NYSE:TCF) last released its earnings results on Monday, October 22nd. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $365.57 million during the quarter, compared to analyst estimates of $367.63 million. TCF Financial had a return on equity of 12.89% and a net margin of 20.22%. TCF Financial’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. Analysts anticipate that TCF Financial Co. will post 1.83 earnings per share for the current fiscal year.
The firm also recently announced 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. This represents a $0.60 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, November 14th. TCF Financial’s dividend payout ratio is presently 50.00%.
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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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