Commonwealth Bank of Australia boosted its position in TCF Financial Co. (NYSE:TCF) by 18.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,200 shares of the bank’s stock after purchasing an additional 2,100 shares during the period. Commonwealth Bank of Australia’s holdings in TCF Financial were worth $257,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TCF. Oregon Public Employees Retirement Fund lifted its position in TCF Financial by 1,839.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,298,814 shares of the bank’s stock worth $67,000 after purchasing an additional 1,231,829 shares during the period. Matarin Capital Management LLC acquired a new stake in shares of TCF Financial during the 3rd quarter valued at $11,852,000. Martingale Asset Management L P lifted its position in shares of TCF Financial by 424.2% during the 3rd quarter. Martingale Asset Management L P now owns 444,650 shares of the bank’s stock valued at $10,588,000 after acquiring an additional 359,821 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 valued at $59,903,000 after acquiring an additional 343,622 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of TCF Financial by 2.2% during the 4th quarter. BlackRock Inc. now owns 15,061,981 shares of the bank’s stock valued at $293,558,000 after acquiring an additional 324,237 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.
Shares of NYSE:TCF opened at $21.44 on Wednesday. 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 Co. has a 12-month low of $18.17 and a 12-month high of $27.34. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.10 and a beta of 1.25.
TCF Financial (NYSE:TCF) last announced its earnings results on Monday, January 28th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. TCF Financial had a net margin of 18.87% and a return on equity of 14.00%. The company had revenue of $377.02 million for the quarter, compared to the consensus estimate of $367.53 million. During the same period in the previous year, the business earned $0.28 EPS. On average, sell-side analysts forecast that TCF Financial Co. will post 1.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.80%. The ex-dividend date was Thursday, February 14th. TCF Financial’s dividend payout ratio (DPR) is currently 31.58%.
TCF has been the subject of a number of recent research reports. Raymond James upgraded TCF Financial from an “outperform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, January 29th. BMO Capital Markets upgraded TCF Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $22.00 to $29.00 in a research report on Tuesday, January 29th. Zacks Investment Research upgraded TCF Financial from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Monday, December 31st. Bank of America downgraded TCF Financial from a “buy” rating to a “neutral” rating in a research report on Thursday, January 10th. Finally, ValuEngine upgraded TCF Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $26.21.
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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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