Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in TCF Financial Co. (NYSE:TCF) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,244 shares of the bank’s stock, valued at approximately $190,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. bought a new position in TCF Financial in the 3rd quarter worth $18,682,000. JPMorgan Chase & Co. raised its holdings in TCF Financial by 12.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,274,734 shares of the bank’s stock worth $106,545,000 after purchasing an additional 676,834 shares in the last quarter. Prudential Financial Inc. raised its holdings in TCF Financial by 110.0% in the 3rd quarter. Prudential Financial Inc. now owns 1,287,685 shares of the bank’s stock worth $21,942,000 after purchasing an additional 674,360 shares in the last quarter. Carlson Capital Management bought a new position in TCF Financial in the 4th quarter worth $2,385,000. Finally, Disciplined Growth Investors Inc. MN bought a new position in TCF Financial in the 3rd quarter worth $30,950,000. Institutional investors and hedge funds own 79.11% of the company’s stock.
Several brokerages recently issued reports on TCF. Zacks Investment Research lowered shares of TCF Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. BMO Capital Markets upgraded shares of TCF Financial from a “market perform” rating to an “outperform” rating and set a $26.00 price target for the company in a research note on Friday, February 9th. ValuEngine upgraded shares of TCF Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley increased their price target on shares of TCF Financial from $21.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Finally, Jefferies Group reiterated a “hold” rating on shares of TCF Financial in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $21.58.
Shares of TCF Financial Co. (TCF) opened at $22.45 on Friday. The firm has a market cap of $3,850.00, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.60 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. TCF Financial Co. has a 12 month low of $14.58 and a 12 month high of $22.69.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.15 per share. This is a positive change from TCF Financial’s previous quarterly dividend of $0.08. This represents a $0.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, February 14th. TCF Financial’s dividend payout ratio (DPR) is currently 53.10%.
In other TCF Financial news, Director Peter Bell sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $20.53, for a total transaction of $307,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by company insiders.
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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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