Meeder Asset Management Inc. increased its holdings in shares of TCF Financial Co. (NYSE:TCF) by 30.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,891 shares of the bank’s stock after buying an additional 29,323 shares during the quarter. Meeder Asset Management Inc. owned 0.08% of TCF Financial worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of TCF. Fort L.P. grew its stake in TCF Financial by 92.1% in the fourth quarter. Fort L.P. now owns 2,883 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,382 shares in the last quarter. Toronto Dominion Bank grew its stake in TCF Financial by 107,133.3% in the fourth quarter. Toronto Dominion Bank now owns 3,217 shares of the bank’s stock valued at $63,000 after purchasing an additional 3,214 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in TCF Financial by 1,839.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,298,814 shares of the bank’s stock valued at $67,000 after purchasing an additional 1,231,829 shares in the last quarter. Mackey Komara & Dankovich LLC purchased a new position in TCF Financial in the fourth quarter valued at about $103,000. Finally, JNBA Financial Advisors purchased a new position in TCF Financial in the fourth quarter valued at about $146,000. Institutional investors and hedge funds own 80.62% of the company’s stock.
A number of brokerages have commented on TCF. Zacks Investment Research upgraded TCF Financial from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Wednesday, April 3rd. ValuEngine downgraded TCF Financial from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Sandler O’Neill upgraded TCF Financial from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Friday, February 8th. Wells Fargo & Co upgraded TCF Financial from a “market perform” rating to an “outperform” rating and set a $19.87 target price on the stock in a research note on Wednesday, January 2nd. Finally, Bank of America downgraded TCF Financial from a “buy” rating to a “neutral” rating in a research note on Thursday, January 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. TCF Financial presently has an average rating of “Hold” and an average target price of $26.38.
Shares of NYSE:TCF opened at $22.19 on Wednesday. TCF Financial Co. has a fifty-two week low of $18.17 and a fifty-two week high of $27.34. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.04 and a beta of 1.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.61.
TCF Financial (NYSE:TCF) last announced its quarterly earnings results on Monday, January 28th. The bank reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. TCF Financial had a return on equity of 14.00% and a net margin of 18.87%. The company had revenue of $377.02 million during the quarter, compared to analysts’ expectations of $367.53 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, analysts predict that TCF Financial Co. will post 2.02 EPS for the current fiscal year.
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 deposits; and individual retirement accounts.
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