Pzena Investment Management LLC Takes Position in TCF Financial Co. (TCF)

Pzena Investment Management LLC bought a new stake in TCF Financial Co. (NYSE:TCF) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,440,506 shares of the bank’s stock, valued at approximately $29,530,000. Pzena Investment Management LLC owned 0.84% of TCF Financial as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TCF. Zions Bancorporation bought a new position in TCF Financial in the 3rd quarter valued at about $116,000. Evercore Wealth Management LLC acquired a new stake in shares of TCF Financial in the 3rd quarter valued at approximately $128,000. Cerebellum GP LLC acquired a new stake in shares of TCF Financial in the 4th quarter valued at approximately $128,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of TCF Financial in the 3rd quarter valued at approximately $140,000. Finally, Tiedemann Wealth Management LLC acquired a new stake in shares of TCF Financial in the 3rd quarter valued at approximately $142,000. 79.11% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on TCF shares. Royal Bank of Canada restated a “buy” rating and issued a $20.00 price target on shares of TCF Financial in a research note on Friday, October 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.00 price target on shares of TCF Financial in a research note on Sunday, October 29th. JPMorgan Chase & Co. raised their price target on shares of TCF Financial from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Barclays raised their price target on shares of TCF Financial from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, DA Davidson upgraded shares of TCF Financial from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $21.58.

In related news, Director Peter Bell sold 15,000 shares of TCF Financial stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $20.53, for a total transaction of $307,950.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.50% of the stock is owned by company insiders.

Shares of TCF Financial Co. (NYSE TCF) opened at $22.00 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. TCF Financial Co. has a 1 year low of $14.58 and a 1 year high of $22.69. The company has a market cap of $3,829.94, a P/E ratio of 18.59, a P/E/G ratio of 1.60 and a beta of 1.21.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 14th. This is an increase from TCF Financial’s previous quarterly dividend of $0.08. This represents a $0.60 annualized dividend and a yield of 2.73%. TCF Financial’s dividend payout ratio (DPR) is currently 41.67%.

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TCF Financial Company Profile

TCF Financial Corporation (TCF) is a bank holding company. The Company’s principal subsidiary is TCF National Bank (TCF Bank). The Company operates in three segments: Consumer Banking, Wholesale Banking and Enterprise Services. Consumer Banking comprises all of the Company’s consumer-facing businesses.

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

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