Chicago Equity Partners LLC Sells 8,470 Shares of TCF Financial Co. (TCF)
Chicago Equity Partners LLC reduced its holdings in shares of TCF Financial Co. (NYSE:TCF) by 21.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,350 shares of the bank’s stock after selling 8,470 shares during the period. Chicago Equity Partners LLC’s holdings in TCF Financial were worth $746,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Millennium Management LLC lifted its position in TCF Financial by 68.0% during the second quarter. Millennium Management LLC now owns 4,831,359 shares of the bank’s stock valued at $118,948,000 after purchasing an additional 1,954,772 shares during the last quarter. LSV Asset Management lifted its holdings in shares of TCF Financial by 6.6% in the second quarter. LSV Asset Management now owns 3,779,152 shares of the bank’s stock valued at $93,042,000 after buying an additional 232,888 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of TCF Financial by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 2,172,294 shares of the bank’s stock valued at $53,481,000 after buying an additional 18,253 shares during the period. FMR LLC lifted its holdings in shares of TCF Financial by 1.2% in the second quarter. FMR LLC now owns 2,067,978 shares of the bank’s stock valued at $50,914,000 after buying an additional 23,700 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of TCF Financial by 9.0% in the first quarter. Principal Financial Group Inc. now owns 1,901,195 shares of the bank’s stock valued at $43,366,000 after buying an additional 156,444 shares during the period. 79.09% of the stock is owned by institutional investors and hedge funds.
TCF has been the topic of a number of recent analyst reports. BMO Capital Markets cut their target price on TCF Financial from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 23rd. Bank of America raised TCF Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $30.00 in a research report on Thursday, September 6th. Keefe, Bruyette & Woods upgraded TCF Financial from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a research note on Thursday, November 8th. Zacks Investment Research downgraded TCF Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Wells Fargo & Co set a $25.00 target price on TCF Financial and gave the company a “hold” rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $25.69.
TCF Financial (NYSE:TCF) last released its quarterly earnings results on Monday, October 22nd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $365.57 million during the quarter, compared to the consensus estimate of $367.63 million. TCF Financial had a return on equity of 12.89% and a net margin of 20.22%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. On average, equities analysts anticipate that TCF Financial Co. will post 1.86 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.84%. TCF Financial’s dividend payout ratio (DPR) is presently 50.00%.
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TCF Financial Profile
TCF Financial Corporation operates as the 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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