TCF Financial (NYSE:TCF) had its target price lowered by Piper Sandler from $37.00 to $34.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the bank’s stock.
TCF has been the subject of a number of other reports. Wedbush raised TCF Financial from a neutral rating to an outperform rating and raised their price target for the stock from $28.00 to $31.00 in a research note on Friday, April 17th. Morgan Stanley raised their price target on TCF Financial from $31.00 to $34.00 and gave the stock an equal weight rating in a research note on Monday, June 8th. Royal Bank of Canada reaffirmed a buy rating and set a $28.00 price target on shares of TCF Financial in a research note on Monday, April 13th. UBS Group cut their price target on TCF Financial from $32.00 to $31.00 and set a buy rating for the company in a research note on Friday, May 15th. Finally, Bank of America raised TCF Financial from a neutral rating to a buy rating and set a $42.00 price objective on the stock in a report on Monday, June 8th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. TCF Financial currently has a consensus rating of Buy and a consensus price target of $39.67.
Shares of TCF Financial stock opened at $27.49 on Thursday. The stock has a 50-day moving average price of $28.61 and a 200 day moving average price of $31.37. The company has a market cap of $4.18 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.36 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 0.64. TCF Financial has a 1 year low of $16.96 and a 1 year high of $47.46.
TCF Financial (NYSE:TCF) last announced its quarterly earnings data on Monday, July 27th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The firm had revenue of $511.41 million during the quarter, compared to the consensus estimate of $527.75 million. During the same period in the prior year, the business earned $0.56 EPS. On average, equities analysts forecast that TCF Financial will post 1.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Thursday, August 13th. TCF Financial’s dividend payout ratio (DPR) is currently 73.68%.
In other TCF Financial news, Director Ronald A. Klein sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $30.36, for a total value of $242,880.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of TCF. Signaturefd LLC lifted its position in shares of TCF Financial by 131.7% during the 2nd quarter. Signaturefd LLC now owns 1,001 shares of the bank’s stock worth $29,000 after buying an additional 569 shares during the period. Parallel Advisors LLC lifted its position in shares of TCF Financial by 2,686.8% during the 1st quarter. Parallel Advisors LLC now owns 1,895 shares of the bank’s stock worth $42,000 after buying an additional 1,827 shares during the period. FDx Advisors Inc. lifted its position in shares of TCF Financial by 209.9% during the 1st quarter. FDx Advisors Inc. now owns 21,651 shares of the bank’s stock worth $49,000 after buying an additional 14,664 shares during the period. Pearl River Capital LLC bought a new position in shares of TCF Financial during the 1st quarter worth approximately $66,000. Finally, Pendal Group Ltd bought a new position in shares of TCF Financial during the 1st quarter worth approximately $77,000. Institutional investors and hedge funds own 80.46% of the company’s stock.
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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