Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in TCF Financial Co. (NYSE:TCF) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 700 shares of the bank’s stock, valued at approximately $26,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Roubaix Capital LLC acquired a new stake in TCF Financial during the third quarter worth approximately $3,890,000. Water Island Capital LLC grew its stake in TCF Financial by 116.7% in the second quarter. Water Island Capital LLC now owns 2,239,055 shares of the bank’s stock valued at $46,550,000 after acquiring an additional 1,205,906 shares during the period. Toronto Dominion Bank grew its stake in TCF Financial by 38.5% in the second quarter. Toronto Dominion Bank now owns 5,114 shares of the bank’s stock valued at $112,000 after acquiring an additional 1,421 shares during the period. Natixis grew its stake in TCF Financial by 27.6% in the second quarter. Natixis now owns 194,517 shares of the bank’s stock valued at $4,044,000 after acquiring an additional 42,106 shares during the period. Finally, Colony Group LLC grew its stake in TCF Financial by 0.9% in the second quarter. Colony Group LLC now owns 109,516 shares of the bank’s stock valued at $2,277,000 after acquiring an additional 1,030 shares during the period. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on TCF shares. Raymond James set a $28.00 price objective on TCF Financial and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Jaffray Companies set a $52.00 price objective on TCF Financial and gave the company a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $47.00 price objective on shares of TCF Financial in a research note on Friday, August 16th. BMO Capital Markets started coverage on TCF Financial in a research note on Friday, August 2nd. They issued an “outperform” rating and a $51.00 price objective for the company. Finally, Wells Fargo & Co reduced their price objective on TCF Financial from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.45.
Shares of NYSE:TCF opened at $37.36 on Friday. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.36 and a beta of 1.30. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.64. TCF Financial Co. has a 12-month low of $34.62 and a 12-month high of $51.51. The business’s 50 day moving average is $38.44 and its 200 day moving average is $27.15.
TCF Financial (NYSE:TCF) last announced its earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.07. The company had revenue of $363.80 million for the quarter, compared to analysts’ expectations of $365.47 million. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. TCF Financial’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. As a group, equities research analysts expect that TCF Financial Co. will post 1.95 earnings per share for the current year.
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.
Further Reading: Understanding the Price to Earnings Ratio (PE)
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