TCF Financial (TCF) Stock Rating Reaffirmed by Royal Bank of Canada
Royal Bank of Canada restated their buy rating on shares of TCF Financial (NYSE:TCF) in a research report sent to investors on Tuesday. The brokerage currently has a $27.00 price objective on the bank’s stock.
A number of other analysts have also recently issued reports on TCF. Keefe, Bruyette & Woods reissued a hold rating and set a $25.00 target price on shares of TCF Financial in a research note on Tuesday. BMO Capital Markets increased their target price on TCF Financial from $26.00 to $28.00 and gave the stock an outperform rating in a research note on Tuesday. ValuEngine raised TCF Financial from a buy rating to a strong-buy rating in a research note on Monday, April 23rd. Zacks Investment Research cut TCF Financial from a buy rating to a hold rating in a research note on Friday, April 6th. Finally, Jefferies Group reissued a hold rating on shares of TCF Financial in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. TCF Financial presently has a consensus rating of Hold and a consensus target price of $23.96.
NYSE TCF opened at $25.07 on Tuesday. TCF Financial has a 52-week low of $14.58 and a 52-week high of $25.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.03. The company has a market cap of $4,296.29, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.39%. TCF Financial’s dividend payout ratio is currently 50.00%.
Several institutional investors and hedge funds have recently modified their holdings of TCF. Wedge Capital Management L L P NC bought a new position in shares of TCF Financial during the 4th quarter worth approximately $83,140,000. Bank of New York Mellon Corp acquired a new stake in shares of TCF Financial in the 4th quarter valued at approximately $57,471,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of TCF Financial in the 4th quarter valued at approximately $49,167,000. Pzena Investment Management LLC acquired a new stake in shares of TCF Financial in the 4th quarter valued at approximately $29,530,000. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of TCF Financial by 271.8% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,870,689 shares of the bank’s stock valued at $38,349,000 after buying an additional 1,367,517 shares during the last quarter. 84.82% of the stock is owned by institutional investors.
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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