Comerica Bank decreased its stake in shares of TCF Financial Co. (NYSE:TCF) by 16.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 452,991 shares of the bank’s stock after selling 91,128 shares during the period. Comerica Bank owned approximately 0.27% of TCF Financial worth $9,486,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new position in TCF Financial during the 2nd quarter valued at about $119,000. Winslow Evans & Crocker Inc. acquired a new position in TCF Financial during the 2nd quarter valued at about $140,000. Smithfield Trust Co. acquired a new position in shares of TCF Financial in the 2nd quarter worth approximately $148,000. NewSquare Capital LLC acquired a new position in shares of TCF Financial in the 2nd quarter worth approximately $171,000. Finally, AdvisorNet Financial Inc grew its stake in shares of TCF Financial by 391.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 7,582 shares of the bank’s stock worth $187,000 after purchasing an additional 6,038 shares during the last quarter. 80.97% of the stock is currently owned by hedge funds and other institutional investors.
In other TCF Financial news, insider Thomas F. Jasper sold 77,725 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $25.69, for a total value of $1,996,755.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Scott Jones sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $25.70, for a total transaction of $1,285,000.00. The disclosure for this sale can be found here. Company insiders own 2.34% of the company’s stock.
Several brokerages have recently issued reports on TCF. Zacks Investment Research cut shares of TCF Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Keefe, Bruyette & Woods raised shares of TCF Financial from a “market perform” rating to an “outperform” rating in a research note on Thursday. Raymond James lowered their price objective on shares of TCF Financial from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 23rd. BMO Capital Markets lowered their price objective on shares of TCF Financial from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $26.00 price objective on shares of TCF Financial in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. TCF Financial currently has an average rating of “Hold” and an average target price of $25.47.
Shares of TCF opened at $22.06 on Friday. TCF Financial Co. has a one year low of $17.55 and a one year high of $27.34. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.02 and a beta of 1.08. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.50.
TCF Financial (NYSE:TCF) last announced its earnings results on Monday, October 22nd. The bank reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. TCF Financial had a net margin of 20.22% and a return on equity of 12.89%. The company had revenue of $365.57 million during the quarter, compared to analysts’ expectations of $367.63 million. During the same period last year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts anticipate that TCF Financial Co. will post 1.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders 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 2.72%. The ex-dividend date is Wednesday, November 14th. TCF Financial’s payout ratio is 50.00%.
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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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