Wedge Capital Management L L P NC grew its position in shares of TCF Financial Co. (NYSE:TCF) by 28.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 670,815 shares of the bank’s stock after buying an additional 150,199 shares during the quarter. Wedge Capital Management L L P NC’s holdings in TCF Financial were worth $31,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in TCF Financial during the third quarter worth approximately $26,000. Stonebridge Capital Advisors LLC bought a new position in TCF Financial during the 2nd quarter worth $27,000. Signaturefd LLC raised its holdings in TCF Financial by 188.1% in the 3rd quarter. Signaturefd LLC now owns 700 shares of the bank’s stock valued at $27,000 after acquiring an additional 457 shares in the last quarter. Optimum Investment Advisors acquired a new position in TCF Financial in the 3rd quarter valued at $45,000. Finally, Huntington National Bank bought a new stake in shares of TCF Financial during the 3rd quarter valued at $75,000. 80.46% of the stock is owned by institutional investors.
Several analysts have recently issued reports on TCF shares. DA Davidson reissued a “buy” rating on shares of TCF Financial in a report on Monday, November 18th. Raymond James reaffirmed a “strong-buy” rating and issued a $58.00 price target (up previously from $53.00) on shares of TCF Financial in a research note on Monday, December 30th. Morgan Stanley cut their price objective on shares of 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. Wells Fargo & Co reduced their price objective 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. Finally, Janney Montgomery Scott downgraded shares of TCF Financial from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.00.
TCF Financial (NYSE:TCF) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $459.81 million during the quarter, compared to analysts’ expectations of $483.69 million. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. TCF Financial’s revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, equities analysts predict that TCF Financial Co. will post 1.95 EPS for the current fiscal year.
In related news, Director Vance K. Opperman acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was acquired at an average price of $42.51 per share, with a total value of $425,100.00. Also, Director Arthur A. Weiss acquired 4,800 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $41.91 per share, with a total value of $201,168.00. Following the purchase, the director now owns 32,751 shares in the company, valued at $1,372,594.41. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.
TCF Financial 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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