Smith Graham & Co. Investment Advisors LP Decreases Stake in TCF Financial Co. (NYSE:TCF)

Smith Graham & Co. Investment Advisors LP cut its holdings in TCF Financial Co. (NYSE:TCF) by 4.2% during the second quarter, Holdings Channel reports. The institutional investor owned 242,542 shares of the bank’s stock after selling 10,700 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in TCF Financial were worth $5,042,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Investors Research Corp purchased a new stake in shares of TCF Financial in the first quarter valued at approximately $25,000. Northern Oak Wealth Management Inc. purchased a new stake in TCF Financial during the first quarter worth $40,000. Cullen Frost Bankers Inc. purchased a new stake in TCF Financial during the first quarter worth $41,000. Toronto Dominion Bank boosted its position in TCF Financial by 14.8% during the first quarter. Toronto Dominion Bank now owns 3,693 shares of the bank’s stock worth $76,000 after purchasing an additional 476 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in TCF Financial during the first quarter worth $203,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Shares of NYSE:TCF traded down $0.07 on Friday, hitting $38.92. The company had a trading volume of 776,302 shares, compared to its average volume of 770,721. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.97 and a current ratio of 0.97. TCF Financial Co. has a 52-week low of $34.62 and a 52-week high of $59.10. The business has a 50 day moving average of $24.27. The firm has a market capitalization of $2.74 billion, a P/E ratio of 20.48, a PEG ratio of 1.36 and a beta of 1.30.

TCF Financial (NYSE:TCF) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $363.80 million for the quarter, compared to the consensus estimate of $365.47 million. During the same period in the prior year, the business earned $0.49 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, research analysts predict that TCF Financial Co. will post 1.95 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a $0.35 dividend. This is an increase from TCF Financial’s previous quarterly dividend of $0.15. This represents a $1.40 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Wednesday, August 14th. TCF Financial’s dividend payout ratio is currently 71.58%.

In other news, EVP Michael Scott Jones sold 40,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $19.58, for a total value of $783,200.00. The sale was disclosed in a filing with the SEC, which is available through this link. 2.50% of the stock is owned by corporate insiders.

TCF has been the topic of a number of research analyst reports. Raymond James set a $28.00 target price on TCF Financial and gave the stock a “buy” rating in a research report on Friday, July 26th. ValuEngine upgraded TCF Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Piper Jaffray Companies set a $27.00 target price on TCF Financial and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Morgan Stanley boosted their target price on TCF Financial from $22.50 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, BMO Capital Markets initiated coverage on TCF Financial in a research report on Friday, August 2nd. They set an “outperform” rating and a $51.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $30.90.

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

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