Peregrine Capital Management LLC raised its position in TCF Financial Co. (NYSE:TCF) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,647 shares of the bank’s stock after purchasing an additional 2,930 shares during the quarter. Peregrine Capital Management LLC owned 0.13% of TCF Financial worth $5,874,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in TCF. Parallel Advisors LLC grew its stake in shares of TCF Financial by 2,686.8% in the first quarter. Parallel Advisors LLC now owns 1,895 shares of the bank’s stock valued at $42,000 after buying an additional 1,827 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of TCF Financial in the first quarter valued at about $66,000. Pendal Group Ltd acquired a new stake in shares of TCF Financial in the first quarter valued at about $77,000. Ballast Advisors LLC acquired a new stake in shares of TCF Financial in the first quarter valued at about $80,000. Finally, Fifth Third Bancorp grew its stake in shares of TCF Financial by 37.3% in the first quarter. Fifth Third Bancorp now owns 4,877 shares of the bank’s stock valued at $111,000 after buying an additional 1,324 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.
A number of brokerages have weighed in on TCF. Piper Sandler lowered their price objective on TCF Financial from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada restated a “buy” rating and set a $28.00 price objective on shares of TCF Financial in a research note on Monday, April 13th. UBS Group lowered their price objective on TCF Financial from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, May 15th. JPMorgan Chase & Co. raised their price objective on TCF Financial from $27.50 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Bank of America upgraded TCF Financial from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Monday, June 8th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. TCF Financial presently has a consensus rating of “Buy” and a consensus target price of $39.67.
Shares of TCF opened at $27.49 on Friday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.36 and a beta of 1.30. The stock has a 50 day moving average of $28.61 and a 200-day moving average of $31.37. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.64. TCF Financial Co. has a 52 week low of $16.96 and a 52 week high of $47.46.
TCF Financial (NYSE:TCF) last issued its earnings results on Monday, July 27th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $511.41 million during the quarter, compared to analyst estimates of $527.75 million. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. During the same quarter last year, the firm earned $0.56 EPS. On average, sell-side analysts predict that TCF Financial Co. will post 1.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Thursday, August 13th. TCF Financial’s dividend payout ratio (DPR) is 73.68%.
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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