Allianz Asset Management GmbH purchased a new stake in shares of TCF Financial Co. (NYSE:TCF) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,635,623 shares of the bank’s stock, valued at approximately $27,871,000. Allianz Asset Management GmbH owned about 0.95% of TCF Financial at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TCF Financial by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,487 shares of the bank’s stock valued at $103,000 after purchasing an additional 580 shares in the last quarter. Evercore Wealth Management LLC acquired a new position in shares of TCF Financial in the third quarter valued at approximately $128,000. Tower Research Capital LLC TRC grew its holdings in shares of TCF Financial by 540.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,282 shares of the bank’s stock valued at $132,000 after purchasing an additional 6,988 shares in the last quarter. Tiedemann Wealth Management LLC acquired a new position in shares of TCF Financial in the third quarter valued at approximately $142,000. Finally, Victory Capital Management Inc. grew its holdings in shares of TCF Financial by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,156 shares of the bank’s stock valued at $146,000 after purchasing an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 82.34% of the company’s stock.
A number of research analysts recently weighed in on TCF shares. Deutsche Bank lifted their price objective on shares of TCF Financial from $17.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. Royal Bank Of Canada restated a “buy” rating and issued a $19.00 price objective on shares of TCF Financial in a report on Friday, September 8th. J P Morgan Chase & Co lifted their price target on shares of TCF Financial from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Barclays lifted their price target on shares of TCF Financial from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $18.00 price target on shares of TCF Financial in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.23.
Shares of TCF Financial Co. (TCF) traded down $0.01 during trading on Monday, reaching $20.46. 1,540,200 shares of the company were exchanged, compared to its average volume of 1,557,855. TCF Financial Co. has a one year low of $14.58 and a one year high of $21.29. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3,510.00, a P/E ratio of 17.95, a P/E/G ratio of 2.77 and a beta of 1.29.
TCF Financial (NYSE:TCF) last issued its quarterly earnings results on Friday, October 27th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The firm had revenue of $343.30 million during the quarter, compared to analysts’ expectations of $340.45 million. TCF Financial had a return on equity of 9.63% and a net margin of 15.27%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. analysts predict that TCF Financial Co. will post 0.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.47%. TCF Financial’s dividend payout ratio is presently 26.55%.
In related news, Director Barry N. Winslow acquired 12,000 shares of TCF Financial stock in a transaction dated Thursday, September 14th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $300,000.00. Following the transaction, the director now owns 2,365 shares of the company’s stock, valued at $59,125. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.
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TCF Financial Company 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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