Barings LLC Takes $861,000 Position in TCF Financial Co. (TCF)
Barings LLC bought a new position in shares of TCF Financial Co. (NYSE:TCF) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 50,500 shares of the bank’s stock, valued at approximately $861,000.
Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in TCF Financial by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,487 shares of the bank’s stock worth $103,000 after buying an additional 580 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in TCF Financial during the 3rd quarter worth approximately $432,000. Tower Research Capital LLC TRC raised its holdings in TCF Financial by 540.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,282 shares of the bank’s stock worth $132,000 after buying an additional 6,988 shares during the period. Victory Capital Management Inc. raised its holdings in TCF Financial by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 9,156 shares of the bank’s stock worth $146,000 after buying an additional 1,372 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in TCF Financial during the 2nd quarter worth approximately $162,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.
In other news, Director Barry N. Winslow bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $25.00 per share, with a total value of $300,000.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which is available at this link. 2.50% of the stock is currently owned by company insiders.
TCF Financial Co. (NYSE:TCF) traded up $0.40 during trading hours on Tuesday, hitting $20.74. 2,023,500 shares of the company traded hands, compared to its average volume of 1,563,352. TCF Financial Co. has a twelve month low of $14.58 and a twelve month 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 company has a market capitalization of $3,497.10, a PE ratio of 17.84, a PEG ratio of 2.98 and a beta of 1.29.
TCF Financial (NYSE:TCF) last released its earnings results on Friday, October 27th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). TCF Financial had a net margin of 15.27% and a return on equity of 9.63%. The firm had revenue of $343.30 million during the quarter, compared to the consensus estimate of $340.45 million. During the same period in the prior year, the business posted $0.31 earnings per share. TCF Financial’s quarterly revenue was up .4% compared to the same quarter last year. research analysts predict that TCF Financial Co. will post 0.83 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were paid a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.45%. TCF Financial’s dividend payout ratio is presently 26.32%.
Several equities analysts have recently weighed in on TCF shares. Deutsche Bank raised their price target on shares of TCF Financial from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. JMP Securities started coverage on shares of TCF Financial in a research note on Thursday, August 31st. They set a “mkt perform” rating for the company. J P Morgan Chase & Co raised 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. Zacks Investment Research cut shares of TCF Financial from a “hold” rating to a “sell” rating in a research note on Monday, September 25th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $19.00 price target on shares of TCF Financial in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.08.
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About TCF Financial
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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