TCF Financial Corp. (NYSE:TCB) had its target price increased by research analysts at Credit Agricole SA from $14.00 to $15.00 in a note issued to investors on Friday. The firm currently has an “underperform” rating on the stock. Credit Agricole SA’s target price indicates a potential upside of 5.86% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on TCB. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of TCF Financial Corp. in a research note on Saturday, July 9th. FBR & Co cut TCF Financial Corp. from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $16.00 to $14.00 in a research note on Monday, July 25th. Jefferies Group reissued a “hold” rating and set a $13.50 target price on shares of TCF Financial Corp. in a research note on Thursday, July 7th. Zacks Investment Research cut TCF Financial Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Finally, Keefe, Bruyette & Woods boosted their target price on TCF Financial Corp. from $15.00 to $15.50 and gave the stock a “market perform” rating in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $14.59.
TCF Financial Corp. (NYSE:TCB) opened at 14.17 on Friday. The stock has a market capitalization of $2.37 billion, a PE ratio of 12.43 and a beta of 1.17. The stock has a 50 day moving average price of $14.34 and a 200 day moving average price of $13.39. TCF Financial Corp. has a 52 week low of $10.37 and a 52 week high of $15.94.
TCF Financial Corp. (NYSE:TCB) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. TCF Financial Corp. had a return on equity of 10.14% and a net margin of 15.34%. The business earned $330.90 million during the quarter, compared to analysts’ expectations of $214.32 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Equities analysts forecast that TCF Financial Corp. will post $1.18 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Thursday, August 11th. TCF Financial Corp.’s payout ratio is currently 26.09%.
Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in TCF Financial Corp. during the fourth quarter valued at $32,852,000. JPMorgan Chase & Co. increased its stake in TCF Financial Corp. by 75.7% in the first quarter. JPMorgan Chase & Co. now owns 2,459,051 shares of the company’s stock valued at $30,149,000 after buying an additional 1,059,825 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in TCF Financial Corp. by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,923,481 shares of the company’s stock valued at $100,230,000 after buying an additional 1,050,082 shares during the last quarter. Citadel Advisors LLC increased its stake in TCF Financial Corp. by 4,570.8% in the second quarter. Citadel Advisors LLC now owns 1,072,280 shares of the company’s stock valued at $13,565,000 after buying an additional 1,049,323 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in TCF Financial Corp. by 81.4% in the first quarter. Renaissance Technologies LLC now owns 2,075,900 shares of the company’s stock valued at $25,451,000 after buying an additional 931,425 shares during the last quarter. 78.20% of the stock is owned by institutional investors and hedge funds.
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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