TCF Financial Co. (TCF) Shares Bought by Janus Henderson Group PLC
Janus Henderson Group PLC grew its stake in TCF Financial Co. (NYSE:TCF) by 91.3% during the second quarter, HoldingsChannel reports. The fund owned 317,200 shares of the bank’s stock after purchasing an additional 151,400 shares during the quarter. Janus Henderson Group PLC’s holdings in TCF Financial were worth $7,809,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of TCF. Assenagon Asset Management S.A. grew its stake in TCF Financial by 251.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,061,567 shares of the bank’s stock worth $26,136,000 after acquiring an additional 759,311 shares in the last quarter. Matarin Capital Management LLC purchased a new stake in shares of TCF Financial in the 1st quarter worth approximately $8,920,000. Millennium Management LLC lifted its position in shares of TCF Financial by 15.4% in the 1st quarter. Millennium Management LLC now owns 2,876,587 shares of the bank’s stock worth $65,615,000 after purchasing an additional 382,844 shares during the period. BlackRock Inc. lifted its position in shares of TCF Financial by 2.6% in the 1st quarter. BlackRock Inc. now owns 14,553,160 shares of the bank’s stock worth $331,958,000 after purchasing an additional 363,186 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of TCF Financial in the 1st quarter worth approximately $6,843,000. Institutional investors and hedge funds own 81.41% of the company’s stock.
NYSE:TCF opened at $25.21 on Tuesday. TCF Financial Co. has a 52 week low of $16.03 and a 52 week high of $27.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 1.00. The company has a market cap of $4.28 billion, a P/E ratio of 20.98, a PEG ratio of 1.20 and a beta of 0.99.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Wednesday, August 15th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.38%. TCF Financial’s payout ratio is 50.00%.
In related news, EVP Michael Scott Jones sold 50,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $25.70, for a total transaction of $1,285,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian W. Maass sold 12,236 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $25.74, for a total transaction of $314,954.64. The disclosure for this sale can be found here. Insiders have sold 139,961 shares of company stock valued at $3,596,710 in the last three months. 2.34% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on TCF. Zacks Investment Research raised shares of TCF Financial from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Wednesday, August 8th. Sandler O’Neill reaffirmed a “buy” rating and issued a $29.00 price target on shares of TCF Financial in a research report on Friday, July 27th. Bank of America raised shares of TCF Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $25.00 to $30.00 in a research report on Thursday, September 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $26.00 price target on shares of TCF Financial in a research report on Monday, July 30th. Finally, BMO Capital Markets cut shares of TCF Financial from an “outperform” rating to a “market perform” rating and set a $28.00 price target for the company. in a research report on Thursday, June 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.00.
TCF Financial Company Profile
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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