65,241 Shares in TCF Financial Co. (NYSE:TCF) Acquired by Pacer Advisors Inc.
Pacer Advisors Inc. bought a new position in shares of TCF Financial Co. (NYSE:TCF) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 65,241 shares of the bank’s stock, valued at approximately $1,356,000. Pacer Advisors Inc. owned 0.09% of TCF Financial at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Swiss National Bank grew its position in shares of TCF Financial by 0.4% during the second quarter. Swiss National Bank now owns 289,900 shares of the bank’s stock valued at $6,027,000 after purchasing an additional 1,100 shares in the last quarter. Kellner Capital LLC boosted its holdings in shares of TCF Financial by 64.7% in the second quarter. Kellner Capital LLC now owns 377,400 shares of the bank’s stock valued at $7,846,000 after acquiring an additional 148,300 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of TCF Financial by 234.7% in the second quarter. SG Americas Securities LLC now owns 179,425 shares of the bank’s stock valued at $3,730,000 after acquiring an additional 125,818 shares in the last quarter. Context BH Capital Management LP purchased a new stake in shares of TCF Financial in the first quarter valued at about $1,556,000. Finally, Hancock Whitney Corp boosted its holdings in shares of TCF Financial by 14.1% in the first quarter. Hancock Whitney Corp now owns 62,752 shares of the bank’s stock valued at $1,298,000 after acquiring an additional 7,735 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on TCF shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $47.00 target price on shares of TCF Financial in a report on Friday, August 16th. BMO Capital Markets started coverage on shares of TCF Financial in a report on Friday, August 2nd. They issued an “outperform” rating and a $51.00 price objective on the stock. Morgan Stanley increased their price objective on shares of TCF Financial from $22.50 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. UBS Group increased their price objective on shares of TCF Financial from $24.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Raymond James set a $28.00 target price on shares of TCF Financial and gave the company a “buy” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.09.
TCF Financial (NYSE:TCF) last posted its earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.07. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The company had revenue of $363.80 million during the quarter, compared to analyst estimates of $365.47 million. During the same period in the previous year, the company earned $0.49 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts forecast that TCF Financial Co. will post 1.95 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.35 per share. This is a positive change from TCF Financial’s previous quarterly dividend of $0.15. This represents a $1.40 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Wednesday, August 14th. TCF Financial’s dividend payout ratio is 73.68%.
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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