Jacobs Asset Management LLC boosted its stake in TCF Financial Co. (NYSE:TCF) by 8.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 722,000 shares of the bank’s stock after acquiring an additional 56,200 shares during the period. TCF Financial comprises approximately 3.1% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Jacobs Asset Management LLC’s holdings in TCF Financial were worth $16,469,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of TCF. Northern Trust Corp grew its position in TCF Financial by 0.3% in the 1st quarter. Northern Trust Corp now owns 1,435,361 shares of the bank’s stock valued at $32,741,000 after acquiring an additional 4,469 shares in the last quarter. Profund Advisors LLC grew its position in TCF Financial by 23.0% in the 4th quarter. Profund Advisors LLC now owns 25,448 shares of the bank’s stock valued at $522,000 after acquiring an additional 4,756 shares in the last quarter. Alliancebernstein L.P. grew its position in TCF Financial by 2.2% in the 4th quarter. Alliancebernstein L.P. now owns 224,257 shares of the bank’s stock valued at $4,597,000 after acquiring an additional 4,790 shares in the last quarter. Foresters Investment Management Company Inc. grew its position in TCF Financial by 1.1% in the 1st quarter. Foresters Investment Management Company Inc. now owns 528,500 shares of the bank’s stock valued at $12,055,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Meadow Creek Investment Management LLC grew its position in TCF Financial by 24.9% in the 4th quarter. Meadow Creek Investment Management LLC now owns 28,458 shares of the bank’s stock valued at $583,000 after acquiring an additional 5,678 shares in the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.
In other news, Director Peter Bell sold 9,716 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $25.39, for a total transaction of $246,689.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry N. Winslow sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $25.99, for a total value of $311,880.00. The disclosure for this sale can be found here. 2.34% of the stock is currently owned by insiders.
Shares of TCF Financial opened at $27.20 on Monday, according to Marketbeat. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. TCF Financial Co. has a twelve month low of $14.58 and a twelve month high of $27.23. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.84 and a beta of 1.06.
TCF Financial (NYSE:TCF) last issued its quarterly earnings data on Monday, April 23rd. The bank reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. TCF Financial had a return on equity of 10.86% and a net margin of 19.62%. The company had revenue of $355.40 million during the quarter, compared to analysts’ expectations of $349.56 million. The company’s quarterly revenue was up 9.2% on a year-over-year basis. sell-side analysts anticipate that TCF Financial Co. will post 1.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Monday, May 14th. TCF Financial’s dividend payout ratio is currently 50.00%.
Several equities analysts have weighed in on the company. BMO Capital Markets lifted their target price on TCF Financial from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, April 24th. Wedbush raised TCF Financial from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $24.00 to $25.00 in a research report on Wednesday, May 2nd. Sandler O’Neill reissued a “buy” rating and set a $25.50 price objective on shares of TCF Financial in a research report on Tuesday, March 27th. ValuEngine raised TCF Financial from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 23rd. Finally, Barclays boosted their price objective on TCF Financial from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. TCF Financial has an average rating of “Hold” and an average price target of $24.75.
About TCF Financial
TCF Financial Corporation operates as the 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 deposits; and individual retirement accounts.
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