Swiss National Bank Boosts Position in TCF Financial Co. (NYSE:TCF)

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Swiss National Bank raised its stake in shares of TCF Financial Co. (NYSE:TCF) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 289,900 shares of the bank’s stock after purchasing an additional 1,100 shares during the period. Swiss National Bank owned 0.18% of TCF Financial worth $6,027,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in TCF Financial by 234.7% during the second quarter. SG Americas Securities LLC now owns 179,425 shares of the bank’s stock valued at $3,730,000 after purchasing an additional 125,818 shares during the period. Context BH Capital Management LP bought a new stake in TCF Financial during the first quarter valued at about $1,556,000. Hancock Whitney Corp grew its holdings in TCF Financial by 14.1% during the first quarter. Hancock Whitney Corp now owns 62,752 shares of the bank’s stock valued at $1,298,000 after purchasing an additional 7,735 shares during the period. Wedge Capital Management L L P NC grew its holdings in TCF Financial by 59.6% during the second quarter. Wedge Capital Management L L P NC now owns 1,031,406 shares of the bank’s stock valued at $21,443,000 after purchasing an additional 385,220 shares during the period. Finally, Vivaldi Asset Management LLC bought a new stake in TCF Financial during the first quarter valued at about $1,825,000. 80.46% of the stock is owned by institutional investors and hedge funds.

NYSE TCF opened at $36.67 on Wednesday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $30.41 and a 200-day moving average price of $23.58. TCF Financial Co. has a twelve month low of $34.62 and a twelve month high of $57.77.

TCF Financial (NYSE:TCF) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.07. The firm had revenue of $363.80 million during the quarter, compared to analyst estimates of $365.47 million. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 earnings per share. Research analysts expect that TCF Financial Co. will post 1.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a $0.35 dividend. This is an increase from TCF Financial’s previous quarterly dividend of $0.15. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Wednesday, August 14th. TCF Financial’s payout ratio is currently 73.68%.

Several analysts have issued reports on the company. JPMorgan Chase & Co. reissued an “overweight” rating and set a $47.00 price target on shares of TCF Financial in a report on Friday, August 16th. BMO Capital Markets assumed coverage on TCF Financial in a report on Friday, August 2nd. They set an “outperform” rating and a $51.00 price target for the company. Morgan Stanley boosted their price target on TCF Financial from $22.50 to $45.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. ValuEngine raised TCF Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, UBS Group boosted their price target on TCF Financial from $24.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. TCF Financial currently has an average rating of “Buy” and a consensus target price of $32.83.

In related news, EVP Michael Scott Jones sold 40,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $19.58, for a total value of $783,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.50% of the stock is currently owned by insiders.

TCF Financial Company Profile

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.

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Institutional Ownership by Quarter for TCF Financial (NYSE:TCF)

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