Investors Buy Large Volume of Put Options on TCF Financial (TCF)
TCF Financial Co. (NYSE:TCF) was the recipient of some unusual options trading activity on Monday. Stock investors purchased 392 put options on the company. This is an increase of approximately 600% compared to the average daily volume of 56 put options.
Shares of TCF Financial (TCF) opened at $20.45 on Thursday. The company has a market cap of $3,520.00, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.80 and a beta of 1.29. TCF Financial has a one year low of $14.58 and a one year high of $21.29. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.59.
TCF Financial (NYSE:TCF) last announced its quarterly earnings results on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company had revenue of $343.30 million during the quarter, compared to analysts’ expectations of $340.45 million. TCF Financial had a return on equity of 9.63% and a net margin of 15.27%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. equities analysts forecast that TCF Financial will post 0.9 earnings per share for the current year.
In related news, Director Peter Bell sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $20.53, for a total value of $307,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of TCF Financial by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,487 shares of the bank’s stock valued at $103,000 after buying an additional 580 shares in the last quarter. Zions Bancorporation purchased a new stake in shares of TCF Financial during the 3rd quarter valued at about $116,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of TCF Financial during the 3rd quarter valued at about $432,000. Evercore Wealth Management LLC purchased a new stake in shares of TCF Financial during the 3rd quarter valued at about $128,000. Finally, Ladenburg Thalmann Financial Services Inc. purchased a new stake in shares of TCF Financial during the 3rd quarter valued at about $140,000. Institutional investors and hedge funds own 82.25% of the company’s stock.
Several research analysts recently weighed in on the stock. JMP Securities assumed coverage on shares of TCF Financial in a report on Thursday, August 31st. They issued a “mkt perform” rating for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $20.00 target price on shares of TCF Financial in a report on Friday, October 27th. Zacks Investment Research raised shares of TCF Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Jefferies Group reaffirmed a “hold” rating and issued a $21.00 target price on shares of TCF Financial in a report on Friday, December 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $18.00 target price on shares of TCF Financial in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, eight 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 $19.23.
About TCF Financial
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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