Russell Investments Group Ltd. raised its holdings in TCF Financial Co. (NYSE:TCF) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 641,936 shares of the bank’s stock after acquiring an additional 11,292 shares during the period. Russell Investments Group Ltd. owned about 0.37% of TCF Financial worth $10,939,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Northwestern Mutual Investment Management Company LLC grew its stake in TCF Financial by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 29,530 shares of the bank’s stock valued at $374,000 after acquiring an additional 94 shares during the period. World Asset Management Inc grew its stake in TCF Financial by 1.8% in the second quarter. World Asset Management Inc now owns 10,519 shares of the bank’s stock valued at $168,000 after acquiring an additional 190 shares during the period. Teacher Retirement System of Texas grew its stake in TCF Financial by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 13,034 shares of the bank’s stock valued at $208,000 after acquiring an additional 255 shares during the period. State of Wisconsin Investment Board grew its stake in TCF Financial by 1.3% in the second quarter. State of Wisconsin Investment Board now owns 31,648 shares of the bank’s stock valued at $504,000 after acquiring an additional 420 shares during the period. Finally, Utah Retirement Systems grew its stake in TCF Financial by 1.8% in the second quarter. Utah Retirement Systems now owns 29,054 shares of the bank’s stock valued at $463,000 after acquiring an additional 500 shares during the period. 82.34% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Barry N. Winslow purchased 12,000 shares of TCF Financial stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $25.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the director now owns 2,365 shares of the company’s stock, valued at approximately $59,125. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
TCF Financial (NYSE:TCF) last posted its quarterly earnings data on Friday, October 27th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). TCF Financial had a return on equity of 9.63% and a net margin of 15.27%. The firm had revenue of $343.30 million for the quarter, compared to analyst estimates of $340.45 million. During the same period in the prior year, the company earned $0.31 earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis. sell-side analysts anticipate that TCF Financial Co. will post 0.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were given a dividend of $0.075 per share. The ex-dividend date was Tuesday, November 14th. This represents a $0.30 annualized dividend and a yield of 1.47%. TCF Financial’s dividend payout ratio (DPR) is presently 26.55%.
A number of research analysts have issued reports on TCF shares. Deutsche Bank boosted their target price on TCF Financial from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. JMP Securities initiated coverage on TCF Financial in a research report on Thursday, August 31st. They set a “mkt perform” rating for the company. J P Morgan Chase & Co upped their price objective on TCF Financial from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Zacks Investment Research cut TCF Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $19.00 price objective on shares of TCF Financial in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. TCF Financial presently has a consensus rating of “Hold” and a consensus price target of $19.08.
TCF Financial Profile
TCF Financial Corporation (TCF) is a bank holding company. The Company’s principal subsidiary is TCF National Bank (TCF Bank). The Company operates in three segments: Consumer Banking, Wholesale Banking and Enterprise Services. Consumer Banking comprises all of the Company’s consumer-facing businesses.
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