Disciplined Growth Investors Inc. MN Purchases Shares of 1,816,342 TCF Financial Co. (TCF)
Disciplined Growth Investors Inc. MN purchased a new position in shares of TCF Financial Co. (NYSE:TCF) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,816,342 shares of the bank’s stock, valued at approximately $30,950,000. Disciplined Growth Investors Inc. MN owned about 1.06% of TCF Financial as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in TCF. Dimensional Fund Advisors LP acquired a new position in TCF Financial in the 3rd quarter valued at about $188,275,000. JPMorgan Chase & Co. raised its stake in TCF Financial by 12.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,274,734 shares of the bank’s stock valued at $106,545,000 after purchasing an additional 676,834 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in TCF Financial in the 3rd quarter valued at about $57,331,000. LSV Asset Management raised its stake in TCF Financial by 2.4% in the 2nd quarter. LSV Asset Management now owns 2,922,164 shares of the bank’s stock valued at $46,579,000 after purchasing an additional 69,407 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in TCF Financial in the 3rd quarter valued at about $40,868,000. 82.34% of the stock is owned by institutional investors and hedge funds.
TCF Financial Co. (TCF) traded down $0.12 during midday trading on Tuesday, hitting $20.34. 1,073,000 shares of the stock were exchanged, compared to its average volume of 1,555,818. TCF Financial Co. has a one year low of $14.58 and a one year high of $21.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.04. The firm has a market cap of $3,517.74, a P/E ratio of 17.95, a P/E/G ratio of 2.77 and a beta of 1.29.
TCF Financial (NYSE:TCF) last posted its quarterly earnings data on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). TCF Financial had a net margin of 15.27% and a return on equity of 9.63%. The company had revenue of $343.30 million for the quarter, compared to analyst estimates of $340.45 million. During the same period in the prior year, the company earned $0.31 EPS. The company’s revenue was up .4% compared to the same quarter last year. analysts expect that TCF Financial Co. will post 0.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, November 14th. TCF Financial’s dividend payout ratio is currently 26.32%.
In other news, Director Barry N. Winslow bought 12,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now owns 2,365 shares of the company’s stock, valued at $59,125. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by insiders.
Several brokerages recently weighed in on TCF. Jefferies Group reissued a “hold” rating and issued a $21.00 target price on shares of TCF Financial in a research note on Friday. DA Davidson reissued a “buy” rating and issued a $23.00 target price on shares of TCF Financial in a research note on Wednesday, November 29th. Sandler O’Neill raised shares of TCF Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. Piper Jaffray Companies raised shares of TCF Financial from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a research note on Tuesday, November 28th. Finally, Deutsche Bank boosted their target price on shares of TCF Financial from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $19.23.
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TCF Financial Company 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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