Public Employees Retirement System of Ohio Takes $4.45 Million Position in TCF Financial Co. (TCF)
Public Employees Retirement System of Ohio acquired a new position in shares of TCF Financial Co. (NYSE:TCF) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 261,027 shares of the bank’s stock, valued at approximately $4,448,000. Public Employees Retirement System of Ohio owned 0.15% of TCF Financial as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of TCF. Algert Global LLC acquired a new stake in shares of TCF Financial in the third quarter valued at about $513,000. Ameritas Investment Partners Inc. acquired a new stake in shares of TCF Financial in the third quarter valued at about $781,000. Sterling Capital Management LLC acquired a new stake in shares of TCF Financial in the third quarter valued at about $719,000. Neuberger Berman Group LLC acquired a new stake in shares of TCF Financial in the third quarter valued at about $34,557,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of TCF Financial in the third quarter valued at about $1,568,000. Institutional investors own 82.25% of the company’s stock.
A number of equities research analysts have recently commented on the stock. JMP Securities assumed coverage on shares of TCF Financial in a research report on Thursday, August 31st. They issued a “mkt perform” rating for the company. Royal Bank of Canada reissued a “buy” rating and issued a $20.00 price objective on shares of TCF Financial in a report on Friday, October 27th. Zacks Investment Research raised shares of TCF Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Jefferies Group reissued a “hold” rating and issued a $21.00 price objective on shares of TCF Financial in a report on Friday, December 8th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $18.00 price objective on shares of TCF Financial in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. TCF Financial has a consensus rating of “Hold” and a consensus target price of $19.23.
TCF Financial Co. (TCF) opened at $20.65 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.59. TCF Financial Co. has a 12 month low of $14.58 and a 12 month high of $21.29. The company has a market cap of $3,574.48, a P/E ratio of 18.11, a PEG ratio of 2.82 and a beta of 1.29.
TCF Financial (NYSE:TCF) last posted its quarterly earnings data on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $343.30 million during the quarter, compared to analysts’ expectations of $340.45 million. During the same period in the previous year, the business posted $0.31 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. sell-side analysts expect that TCF Financial Co. will post 0.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, November 14th. TCF Financial’s payout ratio is 26.32%.
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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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