TCF Financial Co. (TCF) Shares Bought by Millennium Management LLC

Millennium Management LLC increased its position in TCF Financial Co. (NYSE:TCF) by 68.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,831,359 shares of the bank’s stock after acquiring an additional 1,954,772 shares during the period. Millennium Management LLC’s holdings in TCF Financial were worth $118,948,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. purchased a new stake in shares of TCF Financial during the second quarter valued at $140,000. Smithfield Trust Co. purchased a new stake in shares of TCF Financial during the second quarter valued at $148,000. Cerebellum GP LLC purchased a new stake in shares of TCF Financial during the second quarter valued at $170,000. NewSquare Capital LLC purchased a new stake in shares of TCF Financial during the second quarter valued at $171,000. Finally, Summit Trail Advisors LLC lifted its holdings in shares of TCF Financial by 2,114.1% during the first quarter. Summit Trail Advisors LLC now owns 180,712 shares of the bank’s stock valued at $181,000 after purchasing an additional 172,550 shares during the last quarter. Institutional investors and hedge funds own 81.41% of the company’s stock.

NYSE:TCF opened at $25.39 on Friday. The firm has a market cap of $4.28 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.20 and a beta of 0.99. TCF Financial Co. has a 1-year low of $15.69 and a 1-year high of $27.34. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.67.

TCF Financial (NYSE:TCF) last issued its earnings results on Friday, July 27th. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. TCF Financial had a return on equity of 11.81% and a net margin of 19.04%. The company had revenue of $364.90 million for the quarter, compared to analyst estimates of $361.56 million. During the same period in the prior year, the firm posted $0.33 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. equities research analysts predict that TCF Financial Co. will post 1.82 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Tuesday, August 14th. TCF Financial’s payout ratio is currently 50.00%.

In other TCF Financial news, CFO Brian W. Maass sold 12,236 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $25.74, for a total value of $314,954.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas F. Jasper sold 77,725 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $25.69, for a total value of $1,996,755.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,961 shares of company stock worth $3,596,710. Insiders own 2.34% of the company’s stock.

Several research analysts recently weighed in on TCF shares. Zacks Investment Research raised TCF Financial from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Wednesday, August 8th. Sandler O’Neill reissued a “buy” rating and set a $29.00 price target on shares of TCF Financial in a research report on Friday, July 27th. 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. Jefferies Financial Group reissued a “hold” rating and set a $26.00 price target on shares of TCF Financial in a research report on Monday, July 30th. Finally, BMO Capital Markets lowered TCF Financial from an “outperform” rating to a “market perform” rating and set a $28.00 price target on the stock. in a research report on Thursday, June 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.00.

About TCF Financial

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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Institutional Ownership by Quarter for TCF Financial (NYSE:TCF)

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