Quadrature Capital Ltd acquired a new stake in TCF Financial Co. (NYSE:TCF) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 38,059 shares of the bank’s stock, valued at approximately $781,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zions Bancorporation acquired a new position in TCF Financial in the 3rd quarter valued at $116,000. Evercore Wealth Management LLC acquired a new position in TCF Financial in the 3rd quarter valued at $128,000. Cerebellum GP LLC acquired a new position in TCF Financial in the 4th quarter valued at $128,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in TCF Financial in the 3rd quarter valued at $140,000. Finally, Tiedemann Wealth Management LLC acquired a new position in TCF Financial in the 3rd quarter valued at $142,000. 79.11% of the stock is currently owned by institutional investors.
In other TCF Financial news, Director Peter Bell sold 15,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $20.53, for a total transaction of $307,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.15 per share. This is a positive change from TCF Financial’s previous quarterly dividend of $0.08. This represents a $0.60 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, February 14th. TCF Financial’s payout ratio is presently 41.67%.
Several equities analysts have issued reports on TCF shares. Deutsche Bank boosted their price objective on shares of TCF Financial from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Morgan Stanley boosted their price objective on shares of TCF Financial from $21.50 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Royal Bank of Canada reissued a “buy” rating and issued a $25.00 price objective on shares of TCF Financial in a research note on Wednesday, January 31st. Zacks Investment Research raised shares of TCF Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, November 1st. Finally, ValuEngine upgraded shares of TCF Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $21.58.
TCF Financial Company Profile
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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