TCF Financial Co. (NYSE:TCF) has been given a consensus recommendation of “Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $26.50.
Several equities research analysts recently commented on TCF shares. Zacks Investment Research raised TCF Financial from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, March 12th. Piper Jaffray Companies set a $27.00 price target on TCF Financial and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, ValuEngine raised TCF Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st.
Shares of TCF Financial stock opened at $19.85 on Friday. TCF Financial has a 12 month low of $18.17 and a 12 month high of $26.70. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.22 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 0.57.
TCF Financial (NYSE:TCF) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. TCF Financial had a return on equity of 14.03% and a net margin of 18.41%. The firm had revenue of $357.90 million during the quarter, compared to analysts’ expectations of $365.57 million. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts anticipate that TCF Financial will post 1.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.02%. TCF Financial’s dividend payout ratio is currently 31.58%.
In other news, SVP Susan D. Bode sold 10,975 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $21.58, for a total transaction of $236,840.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Scott Jones sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $19.58, for a total value of $783,200.00. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc increased its position in shares of TCF Financial by 1.9% during the third quarter. Vanguard Group Inc now owns 15,712,787 shares of the bank’s stock worth $374,121,000 after purchasing an additional 298,763 shares in the last quarter. BlackRock Inc. grew its holdings in shares of TCF Financial by 2.2% during the fourth quarter. BlackRock Inc. now owns 15,061,981 shares of the bank’s stock worth $293,558,000 after buying an additional 324,237 shares during the last quarter. Millennium Management LLC boosted its stake in shares of TCF Financial by 72.2% during the 4th quarter. Millennium Management LLC now owns 2,560,646 shares of the bank’s stock worth $49,907,000 after acquiring an additional 1,073,458 shares in the last quarter. Norges Bank purchased a new stake in shares of TCF Financial during the 4th quarter worth approximately $48,472,000. Finally, CNH Partners LLC purchased a new stake in shares of TCF Financial during the 1st quarter worth approximately $40,713,000. Institutional investors and hedge funds own 80.38% 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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