TCF Financial Co. (NYSE:TCF) Holdings Lowered by Pathstone Family Office LLC

Pathstone Family Office LLC trimmed its stake in shares of TCF Financial Co. (NYSE:TCF) by 20.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,150 shares of the bank’s stock after selling 548 shares during the period. Pathstone Family Office LLC’s holdings in TCF Financial were worth $45,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in shares of TCF Financial by 14.8% during the first quarter. Toronto Dominion Bank now owns 3,693 shares of the bank’s stock valued at $76,000 after purchasing an additional 476 shares during the last quarter. Neuburgh Advisers LLC lifted its stake in TCF Financial by 230.9% in the 2nd quarter. Neuburgh Advisers LLC now owns 8,576 shares of the bank’s stock worth $290,000 after acquiring an additional 5,984 shares in the last quarter. Riverhead Capital Management LLC purchased a new stake in TCF Financial in the 2nd quarter worth about $376,000. OTA Financial Group L.P. purchased a new stake in TCF Financial in the 1st quarter worth about $236,000. Finally, Glen Harbor Capital Management LLC lifted its stake in TCF Financial by 230.9% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,792 shares of the bank’s stock worth $399,000 after acquiring an additional 8,228 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on TCF shares. 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. UBS Group increased their price objective on TCF Financial from $24.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Morgan Stanley increased their price objective on TCF Financial from $22.50 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Piper Jaffray Companies set a $52.00 target price on TCF Financial and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Raymond James set a $28.00 target price on TCF Financial and gave the stock a “buy” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $35.36.

Shares of NYSE TCF opened at $39.97 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 1.36 and a beta of 1.30. The business’s 50-day simple moving average is $37.61 and its 200-day simple moving average is $25.19. TCF Financial Co. has a 52 week low of $34.62 and a 52 week high of $57.07.

TCF Financial (NYSE:TCF) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.07. The business had revenue of $363.80 million during the quarter, compared to the consensus estimate of $365.47 million. TCF Financial had a net margin of 20.10% and a return on equity of 14.01%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. As a group, equities research analysts forecast that TCF Financial Co. will post 1.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This is an increase from TCF Financial’s previous quarterly dividend of $0.15. This represents a $1.40 annualized dividend and a yield of 3.50%. TCF Financial’s payout ratio is currently 73.68%.

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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Institutional Ownership by Quarter for TCF Financial (NYSE:TCF)

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