Colony Group LLC raised its holdings in TCF Financial Co. (NYSE:TCF) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,203 shares of the bank’s stock after purchasing an additional 1,354 shares during the quarter. Colony Group LLC’s holdings in TCF Financial were worth $2,677,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its position in TCF Financial by 6.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,628 shares of the bank’s stock valued at $638,000 after purchasing an additional 835 shares during the period. Anderson Fisher LLC acquired a new position in TCF Financial during the 4th quarter worth about $159,000. Palisade Asset Management LLC acquired a new position in TCF Financial during the 4th quarter worth about $233,000. Nomura Holdings Inc. purchased a new position in TCF Financial during the 3rd quarter valued at about $985,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in TCF Financial by 561.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,123 shares of the bank’s stock valued at $192,000 after acquiring an additional 3,500 shares during the period. Institutional investors own 80.46% of the company’s stock.
A number of brokerages have issued reports on TCF. UBS Group upgraded shares of TCF Financial from a “neutral” rating to a “buy” rating and cut their price target for the stock from $46.00 to $37.00 in a research note on Tuesday, March 10th. Wells Fargo & Co dropped their price objective on shares of TCF Financial from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Janney Montgomery Scott raised shares of TCF Financial from a “neutral” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Monday, March 2nd. Raymond James cut their target price on shares of TCF Financial from $55.00 to $48.00 and set a “strong-buy” rating on the stock in a research note on Friday, March 6th. Finally, Wedbush reduced their target price on shares of TCF Financial from $49.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $43.64.
In other news, EVP Michael Scott Jones sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $43.80, for a total transaction of $876,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,144 shares of the company’s stock, valued at approximately $3,422,707.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.
Shares of NYSE:TCF opened at $23.54 on Thursday. TCF Financial Co. has a 52 week low of $16.96 and a 52 week high of $47.46. The company’s 50 day moving average is $34.72 and its two-hundred day moving average is $40.22. The company has a market cap of $3.63 billion, a PE ratio of 12.39, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.64.
TCF Financial (NYSE:TCF) last issued its earnings results on Monday, January 27th. The bank reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $566.81 million during the quarter, compared to the consensus estimate of $557.08 million. TCF Financial had a net margin of 20.10% and a return on equity of 14.01%. During the same quarter in the previous year, the firm posted $0.51 earnings per share. As a group, equities research analysts expect that TCF Financial Co. will post 1.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 14th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date of this dividend was Thursday, February 13th. TCF Financial’s dividend payout ratio (DPR) is 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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