Bedel Financial Consulting Inc. acquired a new stake in shares of TCF Financial Co. (NYSE:TCF) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 12,372 shares of the bank’s stock, valued at approximately $471,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in TCF Financial in the third quarter worth $26,000. Roubaix Capital LLC bought a new stake in TCF Financial in the third quarter worth $3,890,000. Water Island Capital LLC lifted its position in TCF Financial by 116.7% in the second quarter. Water Island Capital LLC now owns 2,239,055 shares of the bank’s stock worth $46,550,000 after buying an additional 1,205,906 shares during the last quarter. Toronto Dominion Bank lifted its position in TCF Financial by 38.5% in the second quarter. Toronto Dominion Bank now owns 5,114 shares of the bank’s stock worth $112,000 after buying an additional 1,421 shares during the last quarter. Finally, Natixis lifted its position in TCF Financial by 27.6% in the second quarter. Natixis now owns 194,517 shares of the bank’s stock worth $4,044,000 after buying an additional 42,106 shares during the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. restated an “overweight” rating and issued a $47.00 price target on shares of TCF Financial in a research report on Friday, August 16th. Wells Fargo & Co lowered their price target on TCF Financial from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. UBS Group raised their price target on TCF Financial from $24.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Raymond James set a $28.00 price target on TCF Financial and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets started coverage on TCF Financial in a research report on Friday, August 2nd. They set an “outperform” rating and a $51.00 target price for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. TCF Financial has an average rating of “Buy” and a consensus target price of $37.45.
TCF Financial (NYSE:TCF) last released its earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.07. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The business had revenue of $363.80 million during the quarter, compared to the consensus estimate of $365.47 million. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts forecast that TCF Financial Co. will post 1.95 EPS for the current fiscal year.
About TCF Financial
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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