TCF Financial Corp. (NYSE:TCB) had its target price upped by Credit Agricole SA from $14.00 to $15.00 in a research report released on Friday morning. Credit Agricole SA currently has an underperform rating on the stock.
A number of other brokerages have also weighed in on TCB. Barclays PLC boosted their price objective on shares of TCF Financial Corp. from $14.00 to $15.00 and gave the stock an overweight rating in a report on Monday, July 25th. Zacks Investment Research upgraded shares of TCF Financial Corp. from a sell rating to a hold rating in a report on Monday, July 25th. FBR & Co lowered shares of TCF Financial Corp. from an outperform rating to a market perform rating and lowered their price objective for the stock from $16.00 to $14.00 in a report on Monday, July 25th. JPMorgan Chase & Co. lowered their price objective on shares of TCF Financial Corp. from $13.50 to $13.00 and set a neutral rating for the company in a report on Thursday, July 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of TCF Financial Corp. from $15.00 to $15.50 and gave the stock a market perform rating in a report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. TCF Financial Corp. presently has an average rating of Hold and a consensus target price of $14.59.
TCF Financial Corp. (NYSE:TCB) opened at 14.46 on Friday. The firm has a 50 day moving average of $14.35 and a 200-day moving average of $13.41. TCF Financial Corp. has a 1-year low of $10.37 and a 1-year high of $15.94. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 12.68 and a beta of 1.17.
TCF Financial Corp. (NYSE:TCB) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The firm earned $330.90 million during the quarter, compared to analyst estimates of $214.32 million. TCF Financial Corp. had a net margin of 15.34% and a return on equity of 10.14%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. On average, equities research analysts anticipate that TCF Financial Corp. will post $1.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Thursday, August 11th. TCF Financial Corp.’s payout ratio is currently 26.09%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of TCF Financial Corp. during the fourth quarter worth about $32,852,000. JPMorgan Chase & Co. increased its position in shares of TCF Financial Corp. by 75.7% in the first quarter. JPMorgan Chase & Co. now owns 2,459,051 shares of the company’s stock worth $30,149,000 after buying an additional 1,059,825 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of TCF Financial Corp. by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,923,481 shares of the company’s stock worth $100,230,000 after buying an additional 1,050,082 shares during the last quarter. Citadel Advisors LLC increased its position in shares of TCF Financial Corp. by 4,570.8% in the second quarter. Citadel Advisors LLC now owns 1,072,280 shares of the company’s stock worth $13,565,000 after buying an additional 1,049,323 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of TCF Financial Corp. by 81.4% in the first quarter. Renaissance Technologies LLC now owns 2,075,900 shares of the company’s stock worth $25,451,000 after buying an additional 931,425 shares during the last quarter. 78.20% of the stock is currently owned by institutional investors and hedge funds.
About TCF Financial Corp.
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: Lending, Funding and Support Services. Its Lending segment includes consumer real estate, commercial real estate and business lending, leasing and equipment finance, inventory finance and auto finance.
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