FSI Group LLC Grows Position in TCF Financial Co. (TCF)

FSI Group LLC lifted its position in shares of TCF Financial Co. (NYSE:TCF) by 15.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,786 shares of the bank’s stock after purchasing an additional 16,857 shares during the quarter. TCF Financial comprises 2.2% of FSI Group LLC’s investment portfolio, making the stock its 17th biggest holding. FSI Group LLC owned approximately 0.08% of TCF Financial worth $2,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. raised its stake in TCF Financial by 6.4% during the second quarter. OppenheimerFunds Inc. now owns 38,053 shares of the bank’s stock valued at $937,000 after buying an additional 2,288 shares during the last quarter. Foundry Partners LLC raised its stake in TCF Financial by 0.3% during the third quarter. Foundry Partners LLC now owns 856,616 shares of the bank’s stock valued at $20,396,000 after buying an additional 2,432 shares during the last quarter. Aperio Group LLC raised its stake in TCF Financial by 4.5% during the third quarter. Aperio Group LLC now owns 62,638 shares of the bank’s stock valued at $1,491,000 after buying an additional 2,696 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in TCF Financial by 2.0% during the second quarter. Mutual of America Capital Management LLC now owns 144,059 shares of the bank’s stock valued at $3,547,000 after buying an additional 2,806 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in TCF Financial by 36.9% during the third quarter. First Citizens Bank & Trust Co. now owns 13,907 shares of the bank’s stock valued at $331,000 after buying an additional 3,749 shares during the last quarter. Institutional investors own 80.97% of the company’s stock.

TCF stock opened at $22.06 on Friday. TCF Financial Co. has a 1-year low of $17.55 and a 1-year high of $27.34. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.98. The firm has a market capitalization of $3.66 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08.

TCF Financial (NYSE:TCF) last posted its quarterly earnings results on Monday, October 22nd. The bank reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. TCF Financial had a return on equity of 12.89% and a net margin of 20.22%. The firm had revenue of $365.57 million during the quarter, compared to analysts’ expectations of $367.63 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts anticipate that TCF Financial Co. will post 1.83 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, November 14th. TCF Financial’s dividend payout ratio is currently 50.00%.

In related news, EVP Michael Scott Jones sold 50,000 shares of TCF Financial stock in a transaction on Friday, August 24th. The stock was sold at an average price of $25.70, for a total value of $1,285,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas F. Jasper sold 77,725 shares of TCF Financial stock in a transaction on 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. 2.34% of the stock is owned by insiders.

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded TCF Financial from a “market perform” rating to an “outperform” rating in a research note on Thursday. Zacks Investment Research cut TCF Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. BMO Capital Markets decreased their price target on TCF Financial from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of TCF Financial in a research note on Tuesday, October 23rd. Finally, Raymond James decreased their price target on TCF Financial from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. TCF Financial has an average rating of “Hold” and an average price target of $25.47.

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

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