Pflug Koory LLC Sells 1,212 Shares of TCF Financial Co. (NYSE:TCF)

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Pflug Koory LLC lessened its holdings in shares of TCF Financial Co. (NYSE:TCF) by 51.6% in the third quarter, HoldingsChannel.com reports. The fund owned 1,138 shares of the bank’s stock after selling 1,212 shares during the period. Pflug Koory LLC’s holdings in TCF Financial were worth $43,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Water Island Capital LLC boosted its position in shares of TCF Financial by 116.7% during the 2nd quarter. Water Island Capital LLC now owns 2,239,055 shares of the bank’s stock valued at $46,550,000 after acquiring an additional 1,205,906 shares during the last quarter. Maltese Capital Management LLC boosted its position in shares of TCF Financial by 352.2% during the 2nd quarter. Maltese Capital Management LLC now owns 1,379,200 shares of the bank’s stock valued at $28,674,000 after acquiring an additional 1,074,200 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of TCF Financial by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,172,605 shares of the bank’s stock valued at $24,379,000 after acquiring an additional 35,506 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of TCF Financial by 32.9% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,136,500 shares of the bank’s stock valued at $23,628,000 after acquiring an additional 281,057 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its position in shares of TCF Financial by 38.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,089,696 shares of the bank’s stock valued at $22,655,000 after acquiring an additional 300,691 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

A number of brokerages have recently issued reports on TCF. Morgan Stanley dropped their price target on TCF Financial from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $47.00 price target on shares of TCF Financial in a research report on Friday, August 16th. UBS Group lifted their price target on TCF Financial from $24.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Wells Fargo & Co dropped their price target on TCF Financial from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Finally, Piper Jaffray Companies set a $52.00 price target on TCF Financial and gave the company a “buy” rating in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $37.45.

NYSE:TCF traded up $0.43 during mid-day trading on Tuesday, reaching $37.30. The stock had a trading volume of 14,618 shares, compared to its average volume of 803,837. The firm has a 50 day moving average price of $38.41 and a two-hundred day moving average price of $27.41. The stock has a market capitalization of $2.67 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.36 and a beta of 1.30. TCF Financial Co. has a one year low of $34.62 and a one year high of $50.83. 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 (NYSE:TCF) last released its earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.07. The company had revenue of $363.80 million during the quarter, compared to the consensus estimate of $365.47 million. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. TCF Financial’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. Research analysts forecast that TCF Financial Co. will post 1.95 earnings per share for the current year.

About TCF Financial

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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Want to see what other hedge funds are holding TCF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TCF Financial Co. (NYSE:TCF).

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

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