Pinebridge Investments L.P. Takes Position in TCF Financial Co. (TCF)

Pinebridge Investments L.P. purchased a new position in TCF Financial Co. (NYSE:TCF) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 92,571 shares of the bank’s stock, valued at approximately $1,577,000. Pinebridge Investments L.P. owned 0.05% of TCF Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TCF Financial by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,487 shares of the bank’s stock valued at $103,000 after acquiring an additional 580 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in TCF Financial by 540.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,282 shares of the bank’s stock valued at $132,000 after acquiring an additional 6,988 shares during the last quarter. Tiedemann Wealth Management LLC bought a new position in TCF Financial in the third quarter valued at $142,000. Victory Capital Management Inc. boosted its position in TCF Financial by 17.6% during the second quarter. Victory Capital Management Inc. now owns 9,156 shares of the bank’s stock valued at $146,000 after buying an additional 1,372 shares during the period. Finally, JNBA Financial Advisors purchased a new stake in TCF Financial during the third quarter valued at about $161,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Barry N. Winslow purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average cost of $25.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director now directly owns 2,365 shares in the company, valued at $59,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by corporate insiders.

Several research firms have issued reports on TCF. DA Davidson restated a “buy” rating and set a $23.00 price target on shares of TCF Financial in a research report on Wednesday, November 29th. Sandler O’Neill upgraded shares of TCF Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, November 28th. Piper Jaffray Companies upgraded shares of TCF Financial from a “neutral” rating to an “overweight” rating and set a $23.00 price target for the company in a research report on Tuesday, November 28th. Deutsche Bank upped their price target on shares of TCF Financial from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research lowered shares of TCF Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.08.

TCF Financial Co. (NYSE TCF) traded up $0.14 during mid-day trading on Friday, reaching $20.47. 896,200 shares of the company were exchanged, compared to its average volume of 1,557,930. TCF Financial Co. has a 12 month low of $14.58 and a 12 month high of $21.29. The company has a market capitalization of $3,500.00, a P/E ratio of 17.83, a P/E/G ratio of 2.98 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

TCF Financial (NYSE:TCF) last released its quarterly earnings results on Friday, October 27th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). TCF Financial had a return on equity of 9.63% and a net margin of 15.27%. The company had revenue of $343.30 million during the quarter, compared to the consensus estimate of $340.45 million. During the same period in the previous year, the company earned $0.31 earnings per share. TCF Financial’s quarterly revenue was up .4% on a year-over-year basis. equities research analysts anticipate that TCF Financial Co. will post 0.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, November 14th. TCF Financial’s payout ratio is currently 26.55%.

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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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