Meadow Creek Investment Management LLC boosted its position in shares of TCF Financial Co. (NYSE:TCF) by 24.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,458 shares of the bank’s stock after purchasing an additional 5,678 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in TCF Financial were worth $583,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TCF. Dimensional Fund Advisors LP purchased a new stake in TCF Financial during the third quarter worth $188,275,000. Wedge Capital Management L L P NC purchased a new stake in TCF Financial during the fourth quarter worth $83,140,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in TCF Financial during the third quarter worth $57,331,000. Bank of New York Mellon Corp purchased a new stake in shares of TCF Financial in the fourth quarter valued at $57,471,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of TCF Financial in the fourth quarter valued at $49,167,000. Institutional investors own 84.90% of the company’s stock.
Several analysts have recently issued reports on the company. UBS assumed coverage on TCF Financial in a research report on Thursday. They issued a “neutral” rating and a $24.00 price objective on the stock. Morgan Stanley restated an “equal weight” rating and issued a $23.00 price objective (up from $22.00) on shares of TCF Financial in a research report on Wednesday, March 7th. ValuEngine upgraded TCF Financial from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. downgraded TCF Financial from a “neutral” rating to an “underweight” rating and set a $22.00 price objective on the stock. in a research report on Wednesday, January 31st. Finally, Wells Fargo downgraded TCF Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.85.
TCF Financial (NYSE:TCF) last released its earnings results on Tuesday, January 30th. The bank reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). The business had revenue of $362.75 million during the quarter, compared to analyst estimates of $355.48 million. TCF Financial had a net margin of 18.31% and a return on equity of 9.85%. equities analysts predict that TCF Financial Co. will post 1.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were paid a $0.15 dividend. This is a positive change from TCF Financial’s previous quarterly dividend of $0.08. This represents a $0.60 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Wednesday, February 14th. TCF Financial’s dividend payout ratio is presently 41.67%.
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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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