LSV Asset Management raised its stake in TCF Financial Co. (NYSE:TCB) by 31.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,852,757 shares of the bank’s stock after buying an additional 677,739 shares during the period. LSV Asset Management owned 1.70% of TCF Financial worth $48,553,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Acrospire Investment Management LLC boosted its position in shares of TCF Financial by 40.5% in the third quarter. Acrospire Investment Management LLC now owns 7,285 shares of the bank’s stock valued at $106,000 after buying an additional 2,100 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of TCF Financial by 900.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 9,555 shares of the bank’s stock valued at $139,000 after buying an additional 8,600 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of TCF Financial by 12.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,055 shares of the bank’s stock valued at $177,000 after buying an additional 992 shares during the last quarter. Elkfork Partners LLC purchased a new position in shares of TCF Financial during the fourth quarter valued at about $183,000. Finally, Calamos Advisors LLC purchased a new position in shares of TCF Financial during the fourth quarter valued at about $200,000. 79.17% of the stock is owned by institutional investors and hedge funds.
Shares of TCF Financial Co. (NYSE:TCB) traded down 0.65% during mid-day trading on Friday, reaching $16.86. The company’s stock had a trading volume of 901,490 shares. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 14.79 and a beta of 1.14. TCF Financial Co. has a 1-year low of $11.72 and a 1-year high of $20.03. The company’s 50 day moving average price is $16.63 and its 200-day moving average price is $17.25.
TCF Financial (NYSE:TCB) last issued its earnings results on Monday, April 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $325.60 million for the quarter, compared to analysts’ expectations of $326.93 million. TCF Financial had a return on equity of 9.83% and a net margin of 15.19%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. Analysts predict that TCF Financial Co. will post $1.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 15th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Thursday, May 11th. TCF Financial’s dividend payout ratio (DPR) is 26.09%.
Several research analysts have recently issued reports on the company. Wells Fargo & Co upgraded TCF Financial from a “market perform” rating to an “outperform” rating in a research note on Monday, January 9th. Deutsche Bank AG cut TCF Financial from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $20.00 in a research note on Friday, January 20th. Zacks Investment Research cut TCF Financial from a “buy” rating to a “hold” rating in a research note on Monday, January 30th. Barclays PLC reduced their price objective on TCF Financial to $20.00 in a research note on Monday, January 30th. Finally, Royal Bank of Canada reduced their price objective on TCF Financial from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.63.
In other news, Director Barry N. Winslow sold 75,000 shares of the stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $17.51, for a total transaction of $1,313,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry N. Winslow sold 6,000 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $17.55, for a total value of $105,300.00. Following the transaction, the director now directly owns 2,365 shares of the company’s stock, valued at $41,505.75. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.
About TCF Financial
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: Consumer Banking, Wholesale Banking and Enterprise Services. Consumer Banking comprises all of the Company’s consumer-facing businesses.
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