Public Employees Retirement Association of Colorado cut its position in TCF Financial Co. (NYSE:TCF) by 16.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,025 shares of the bank’s stock after selling 6,013 shares during the period. Public Employees Retirement Association of Colorado’s holdings in TCF Financial were worth $621,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in TCF. Renaissance Technologies LLC acquired a new position in TCF Financial in the 3rd quarter valued at approximately $1,250,000. Legal & General Group Plc raised its holdings in TCF Financial by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 220,331 shares of the bank’s stock valued at $5,246,000 after acquiring an additional 4,069 shares in the last quarter. Vanguard Group Inc raised its holdings in TCF Financial by 1.9% in the 3rd quarter. Vanguard Group Inc now owns 15,712,787 shares of the bank’s stock valued at $374,121,000 after acquiring an additional 298,763 shares in the last quarter. First Hawaiian Bank raised its holdings in TCF Financial by 3.7% in the 4th quarter. First Hawaiian Bank now owns 19,767 shares of the bank’s stock valued at $385,000 after acquiring an additional 703 shares in the last quarter. Finally, Mackey Komara & Dankovich LLC acquired a new position in TCF Financial in the 4th quarter valued at approximately $103,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.
TCF stock opened at $20.84 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.24. TCF Financial Co. has a 1-year low of $18.17 and a 1-year high of $27.34.
TCF Financial (NYSE:TCF) last posted its earnings results on Monday, April 22nd. The bank reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $357.90 million for the quarter, compared to analyst estimates of $365.57 million. TCF Financial had a return on equity of 14.03% and a net margin of 18.41%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. Analysts predict that TCF Financial Co. will post 2.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.60 annualized dividend and a yield of 2.88%. TCF Financial’s dividend payout ratio is presently 31.58%.
Several research firms have commented on TCF. Sandler O’Neill raised TCF Financial from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Friday, February 8th. Raymond James raised TCF Financial from an “outperform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Tuesday, January 29th. BMO Capital Markets raised TCF Financial from a “market perform” rating to an “outperform” rating and upped their price target for the company from $22.00 to $29.00 in a report on Tuesday, January 29th. Wells Fargo & Co set a $26.00 price target on TCF Financial and gave the company a “buy” rating in a report on Tuesday, January 29th. Finally, ValuEngine upgraded TCF Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. TCF Financial has a consensus rating of “Buy” and an average target price of $26.82.
In other TCF Financial news, SVP Susan D. Bode sold 10,975 shares of TCF Financial stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.58, for a total transaction of $236,840.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.50% of the company’s stock.
TCF Financial Profile
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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