Jacobs Asset Management LLC acquired a new stake in TCF Financial Co. (NYSE:TCF) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 750,000 shares of the bank’s stock, valued at approximately $12,780,000. TCF Financial comprises approximately 2.4% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 16th biggest holding. Jacobs Asset Management LLC owned approximately 0.44% of TCF Financial as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP bought a new stake in shares of TCF Financial during the third quarter worth $188,275,000. JPMorgan Chase & Co. raised its position in shares of TCF Financial by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 6,274,734 shares of the bank’s stock worth $106,545,000 after acquiring an additional 676,834 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of TCF Financial by 0.3% during the second quarter. Wedge Capital Management L L P NC now owns 4,227,873 shares of the bank’s stock worth $67,392,000 after acquiring an additional 11,636 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of TCF Financial during the third quarter worth $57,331,000. Finally, LSV Asset Management raised its position in shares of TCF Financial by 2.4% during the second quarter. LSV Asset Management now owns 2,922,164 shares of the bank’s stock worth $46,579,000 after acquiring an additional 69,407 shares during the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.
Shares of TCF Financial Co. (NYSE:TCF) traded down $0.02 during trading on Thursday, hitting $20.33. The company had a trading volume of 986,700 shares, compared to its average volume of 1,560,746. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. TCF Financial Co. has a twelve month low of $14.58 and a twelve month high of $21.29. The firm has a market capitalization of $3,498.82, a PE ratio of 17.85, a PEG ratio of 2.99 and a beta of 1.29.
TCF Financial (NYSE:TCF) last announced its quarterly earnings data on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). TCF Financial had a return on equity of 9.63% and a net margin of 15.27%. The company had revenue of $343.30 million for the quarter, compared to analyst estimates of $340.45 million. During the same period last year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. research analysts predict that TCF Financial Co. will post 0.83 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.48%. TCF Financial’s dividend payout ratio (DPR) is presently 26.32%.
In related news, Director Barry N. Winslow acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $25.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director now directly owns 2,365 shares in the company, valued at $59,125. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by insiders.
A number of research firms have recently weighed in on TCF. DA Davidson restated a “buy” rating and set a $23.00 target price on shares of TCF Financial in a research report on Wednesday, November 29th. Piper Jaffray Companies upgraded TCF Financial from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Tuesday, November 28th. Sandler O’Neill upgraded TCF Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, November 28th. Zacks Investment Research downgraded TCF Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Barclays boosted their target price on TCF Financial from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. TCF Financial currently has an average rating of “Hold” and a consensus price target of $19.08.
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TCF Financial 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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