Morgan Stanley Decreases Position in TCF Financial Co. (NYSE:TCF)

Morgan Stanley lessened its holdings in TCF Financial Co. (NYSE:TCF) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 279,791 shares of the bank’s stock after selling 26,417 shares during the period. Morgan Stanley’s holdings in TCF Financial were worth $5,817,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Toronto Dominion Bank raised its holdings in shares of TCF Financial by 38.5% in the 2nd quarter. Toronto Dominion Bank now owns 5,114 shares of the bank’s stock valued at $112,000 after purchasing an additional 1,421 shares in the last quarter. Neuburgh Advisers LLC raised its holdings in shares of TCF Financial by 230.9% in the 2nd quarter. Neuburgh Advisers LLC now owns 8,576 shares of the bank’s stock valued at $290,000 after purchasing an additional 5,984 shares in the last quarter. Riverhead Capital Management LLC acquired a new stake in shares of TCF Financial in the 2nd quarter valued at $376,000. Glen Harbor Capital Management LLC raised its holdings in shares of TCF Financial by 230.9% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,792 shares of the bank’s stock valued at $399,000 after purchasing an additional 8,228 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of TCF Financial in the 2nd quarter valued at $270,000. 80.46% of the stock is owned by institutional investors.

Shares of NYSE:TCF opened at $37.42 on Tuesday. The company’s fifty day moving average price is $38.30 and its 200 day moving average price is $27.97. TCF Financial Co. has a 12 month low of $34.62 and a 12 month high of $49.15. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $2.63 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.36 and a beta of 1.30.

TCF Financial (NYSE:TCF) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. The company had revenue of $363.80 million for the quarter, compared to analyst estimates of $365.47 million. TCF Financial had a net margin of 20.10% and a return on equity of 14.01%. TCF Financial’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. On average, sell-side analysts anticipate that TCF Financial Co. will post 1.95 EPS for the current year.

A number of brokerages have recently weighed in on TCF. Piper Jaffray Companies set a $52.00 price objective on shares of TCF Financial and gave the company a “buy” rating in a report on Friday, September 13th. Morgan Stanley cut their price target on shares of TCF Financial from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Co cut their price target on shares of TCF Financial from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. BMO Capital Markets assumed coverage on shares of TCF Financial in a research note on Friday, August 2nd. They set an “outperform” rating and a $51.00 price target on the stock. Finally, Raymond James set a $28.00 price target on shares of TCF Financial and gave the stock a “buy” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $37.45.

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.

See Also: Index Funds

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

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