Legal & General Group Plc lifted its stake in shares of TCF Financial Co. (NYSE:TCF) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 222,893 shares of the bank’s stock after purchasing an additional 2,562 shares during the period. Legal & General Group Plc owned 0.13% of TCF Financial worth $4,344,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its holdings in shares of TCF Financial by 4.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 42,589 shares of the bank’s stock worth $830,000 after acquiring an additional 1,969 shares during the last quarter. Cipher Capital LP increased its position in shares of TCF Financial by 555.8% during the fourth quarter. Cipher Capital LP now owns 70,838 shares of the bank’s stock valued at $1,380,000 after buying an additional 60,036 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in TCF Financial during the fourth quarter worth about $785,000. Squarepoint Ops LLC boosted its stake in TCF Financial by 207.5% during the fourth quarter. Squarepoint Ops LLC now owns 403,111 shares of the bank’s stock worth $7,857,000 after acquiring an additional 272,033 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in TCF Financial by 56.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 454,084 shares of the bank’s stock worth $8,850,000 after acquiring an additional 163,046 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.
Several research firms recently commented on TCF. ValuEngine lowered shares of TCF Financial from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Wells Fargo & Co set a $26.00 price objective on shares of TCF Financial and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research lowered shares of TCF Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Sandler O’Neill raised shares of TCF Financial from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Friday, February 8th. Finally, Raymond James upgraded shares of TCF Financial from an “outperform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Tuesday, January 29th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $26.80.
TCF Financial (NYSE:TCF) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. The company had revenue of $357.90 million for the quarter, compared to the consensus estimate of $365.57 million. TCF Financial had a net margin of 18.41% and a return on equity of 14.03%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts expect that TCF Financial Co. will post 2.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.66%. TCF Financial’s dividend payout ratio (DPR) is 31.58%.
TCF Financial Profile
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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