California State Teachers Retirement System Decreases Holdings in TCF Financial Co. (NYSE:TCF)

California State Teachers Retirement System cut its stake in shares of TCF Financial Co. (NYSE:TCF) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 243,636 shares of the bank’s stock after selling 11,734 shares during the period. California State Teachers Retirement System’s holdings in TCF Financial were worth $9,275,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TCF. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in TCF Financial during the 3rd quarter valued at $26,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of TCF Financial in the 2nd quarter worth $27,000. Signaturefd LLC increased its stake in shares of TCF Financial by 188.1% in the 3rd quarter. Signaturefd LLC now owns 700 shares of the bank’s stock worth $27,000 after purchasing an additional 457 shares in the last quarter. Optimum Investment Advisors purchased a new stake in shares of TCF Financial in the 3rd quarter worth $45,000. Finally, Huntington National Bank purchased a new stake in shares of TCF Financial in the 3rd quarter worth $75,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

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In other news, Director Vance K. Opperman bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was bought at an average price of $42.51 per share, with a total value of $425,100.00. Also, Director Arthur A. Weiss bought 4,800 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $41.91 per share, with a total value of $201,168.00. Following the acquisition, the director now directly owns 32,751 shares in the company, valued at approximately $1,372,594.41. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

Several research firms have recently commented on TCF. Piper Jaffray Companies set a $52.00 price objective on TCF Financial and gave the stock a “buy” rating in a research note on Friday, September 13th. Bank of America began coverage on TCF Financial in a research note on Monday, October 28th. They issued a “neutral” rating and a $44.00 price objective for the company. Wells Fargo & Co reduced their price objective on TCF Financial from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. TheStreet upgraded TCF Financial from a “c+” rating to a “b-” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley reduced their price objective on TCF Financial from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $40.50.

Shares of TCF Financial stock opened at $42.47 on Thursday. The company has a market capitalization of $2.98 billion, a P/E ratio of 22.35, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.97 and a current ratio of 0.97. The company has a fifty day moving average of $40.70 and a 200 day moving average of $32.16. TCF Financial Co. has a fifty-two week low of $34.62 and a fifty-two week high of $47.71.

TCF Financial (NYSE:TCF) last issued its earnings results on Monday, October 28th. The bank reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. The company had revenue of $459.81 million during the quarter, compared to the consensus estimate of $483.69 million. TCF Financial had a net margin of 20.10% and a return on equity of 14.01%. TCF Financial’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. Analysts forecast that TCF Financial Co. will post 1.95 EPS for the current year.

The company also recently announced a dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, November 14th. TCF Financial’s dividend payout ratio is currently 73.68%.

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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