Cornerstone Capital Management Holdings LLC. boosted its position in TCF Financial Co. (NYSE:TCF) by 773.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 162,240 shares of the bank’s stock after purchasing an additional 143,661 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.09% of TCF Financial worth $3,325,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of TCF. Crossmark Global Holdings Inc. bought a new stake in TCF Financial in the 3rd quarter worth about $212,000. Victory Capital Management Inc. boosted its stake in TCF Financial by 40.4% in the third quarter. Victory Capital Management Inc. now owns 12,854 shares of the bank’s stock valued at $219,000 after acquiring an additional 3,698 shares during the last quarter. Principal Financial Group Inc. boosted its stake in TCF Financial by 1.1% in the third quarter. Principal Financial Group Inc. now owns 731,364 shares of the bank’s stock valued at $12,463,000 after acquiring an additional 7,874 shares during the last quarter. New York State Common Retirement Fund boosted its stake in TCF Financial by 27.1% in the third quarter. New York State Common Retirement Fund now owns 430,900 shares of the bank’s stock valued at $7,343,000 after acquiring an additional 91,900 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in TCF Financial by 1.8% in the third quarter. Russell Investments Group Ltd. now owns 641,936 shares of the bank’s stock valued at $10,939,000 after acquiring an additional 11,292 shares during the last quarter. 84.90% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the stock. UBS assumed coverage on shares of TCF Financial in a research note on Thursday. They issued a “neutral” rating and a $24.00 target price on the stock. Jefferies Group reiterated a “hold” rating on shares of TCF Financial in a research note on Thursday, February 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $23.00 target price (up from $22.00) on shares of TCF Financial in a research note on Wednesday, March 7th. Wells Fargo cut shares of TCF Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 31st. Finally, ValuEngine upgraded shares of TCF Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $21.85.
TCF Financial (NYSE:TCF) last announced its quarterly earnings results on Tuesday, January 30th. The bank reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). The business had revenue of $362.75 million for the quarter, compared to analysts’ expectations of $355.48 million. TCF Financial had a net margin of 18.31% and a return on equity of 9.85%. research analysts predict that TCF Financial Co. will post 1.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.15 per share. This is a boost from TCF Financial’s previous quarterly dividend of $0.08. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date 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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