Neuberger Berman Group LLC raised its stake in TCF Financial Co. (NYSE:TCF) by 0.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,708,964 shares of the bank’s stock after buying an additional 9,394 shares during the period. Neuberger Berman Group LLC’s holdings in TCF Financial were worth $35,356,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of TCF. Investors Research Corp acquired a new position in shares of TCF Financial during the first quarter worth $25,000. Northern Oak Wealth Management Inc. acquired a new position in shares of TCF Financial during the first quarter worth $40,000. Cullen Frost Bankers Inc. acquired a new position in shares of TCF Financial during the first quarter worth $41,000. Fort L.P. lifted its holdings in shares of TCF Financial by 92.1% during the fourth quarter. Fort L.P. now owns 2,883 shares of the bank’s stock worth $56,000 after purchasing an additional 1,382 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in shares of TCF Financial by 107,133.3% during the fourth quarter. Toronto Dominion Bank now owns 3,217 shares of the bank’s stock worth $63,000 after purchasing an additional 3,214 shares during the period. Hedge funds and other institutional investors own 80.38% of the company’s stock.
TCF has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of TCF Financial from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, March 12th. Piper Jaffray Companies set a $27.00 price target on shares of TCF Financial and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, ValuEngine lowered shares of TCF Financial from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Four equities research 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 stock. TCF Financial presently has an average rating of “Buy” and a consensus price target of $26.82.
TCF stock opened at $19.70 on Friday. The firm has a market capitalization of $3.20 billion, a P/E ratio of 10.37, a PEG ratio of 1.19 and a beta of 1.30. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. TCF Financial Co. has a 12-month low of $18.17 and a 12-month high of $26.79.
TCF Financial (NYSE:TCF) last released its earnings results on Monday, April 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $357.90 million for the quarter, compared to analyst estimates of $365.57 million. TCF Financial had a net margin of 18.41% and a return on equity of 14.03%. TCF Financial’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. Equities analysts anticipate that TCF Financial Co. will post 1.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a $0.15 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.60 annualized dividend and a yield of 3.05%. TCF Financial’s payout ratio is 31.58%.
In related news, SVP Susan D. Bode sold 10,975 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $21.58, for a total value of $236,840.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Scott Jones sold 40,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $19.58, for a total transaction of $783,200.00. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
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About TCF Financial
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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