TCF Financial Co. (NYSE:TCF) EVP Sells 40,000 Shares

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TCF Financial Co. (NYSE:TCF) EVP Michael Scott Jones sold 40,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $19.58, for a total transaction of $783,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of TCF traded down $0.20 during trading hours on Wednesday, reaching $19.47. The stock had a trading volume of 1,083,645 shares, compared to its average volume of 1,424,655. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.57. TCF Financial Co. has a 52 week low of $18.17 and a 52 week high of $27.03. The stock has a market cap of $3.19 billion, a P/E ratio of 10.25, a P/E/G ratio of 1.20 and a beta of 1.30.

TCF Financial (NYSE:TCF) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. TCF Financial had a net margin of 18.41% and a return on equity of 14.03%. The business had revenue of $357.90 million during the quarter, compared to analysts’ expectations of $365.57 million. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that TCF Financial Co. will post 1.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Tuesday, May 14th. TCF Financial’s dividend payout ratio (DPR) is presently 31.58%.

A number of research firms recently commented on TCF. Zacks Investment Research cut shares of TCF Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded shares of TCF Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Piper Jaffray Companies set a $27.00 price objective on shares of TCF Financial and gave the company a “buy” rating in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.82.

A number of hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its holdings in TCF Financial by 14.8% during the 1st quarter. Toronto Dominion Bank now owns 3,693 shares of the bank’s stock worth $76,000 after purchasing an additional 476 shares in the last quarter. Boston Advisors LLC increased its holdings in TCF Financial by 0.6% during the 1st quarter. Boston Advisors LLC now owns 79,976 shares of the bank’s stock worth $1,655,000 after purchasing an additional 494 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in TCF Financial by 2.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 23,955 shares of the bank’s stock worth $467,000 after purchasing an additional 500 shares in the last quarter. Arizona State Retirement System increased its holdings in TCF Financial by 0.5% during the 4th quarter. Arizona State Retirement System now owns 119,722 shares of the bank’s stock worth $2,333,000 after purchasing an additional 652 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in TCF Financial by 19.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,397 shares of the bank’s stock worth $112,000 after purchasing an additional 883 shares in the last quarter. Hedge funds and other institutional investors own 80.38% of the company’s stock.

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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.

Read More: Why do analysts give a neutral rating?

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