Mason Street Advisors LLC acquired a new stake in TCF Financial Corp. (NYSE:TCB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 78,004 shares of the company’s stock, valued at approximately $987,000.
A number of other hedge funds also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of TCF Financial Corp. by 3.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,342 shares of the company’s stock valued at $114,000 after buying an additional 334 shares in the last quarter. Pacad Investment Ltd. bought a new stake in shares of TCF Financial Corp. during the second quarter valued at approximately $120,000. Hsbc Holdings PLC bought a new stake in shares of TCF Financial Corp. during the second quarter valued at approximately $129,000. Bank of Montreal Can bought a new stake in shares of TCF Financial Corp. during the second quarter valued at approximately $130,000. Finally, White Pine Capital LLC raised its stake in TCF Financial Corp. by 27.4% in the second quarter. White Pine Capital LLC now owns 13,932 shares of the company’s stock valued at $176,000 after buying an additional 3,000 shares during the period. 78.20% of the stock is currently owned by institutional investors and hedge funds.
TCF Financial Corp. (NYSE:TCB) opened at 14.17 on Tuesday. TCF Financial Corp. has a 1-year low of $10.37 and a 1-year high of $15.94. The firm has a 50-day moving average of $14.34 and a 200-day moving average of $13.39. The stock has a market cap of $2.37 billion, a PE ratio of 12.43 and a beta of 1.17.
TCF Financial Corp. (NYSE:TCB) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $330.90 million for the quarter, compared to the consensus estimate of $214.32 million. TCF Financial Corp. had a net margin of 15.34% and a return on equity of 10.14%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. Analysts expect that TCF Financial Corp. will post $1.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, August 11th. TCF Financial Corp.’s payout ratio is 26.09%.
TCB has been the topic of several research reports. Barclays PLC boosted their price target on shares of TCF Financial Corp. from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, July 25th. Zacks Investment Research raised shares of TCF Financial Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Credit Agricole SA boosted their price target on shares of TCF Financial Corp. from $14.00 to $15.00 and gave the company an “underperform” rating in a research report on Friday. FBR & Co lowered shares of TCF Financial Corp. from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $16.00 to $14.00 in a research report on Monday, July 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of TCF Financial Corp. from $13.50 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $14.59.
About TCF Financial Corp.
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: Lending, Funding and Support Services. Its Lending segment includes consumer real estate, commercial real estate and business lending, leasing and equipment finance, inventory finance and auto finance.
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