Stevens Capital Management LP Purchases Shares of 38,887 TCF Financial Co. (TCF)

Stevens Capital Management LP purchased a new stake in shares of TCF Financial Co. (NYSE:TCF) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,887 shares of the bank’s stock, valued at approximately $926,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of TCF Financial by 1.2% during the third quarter. BlackRock Inc. now owns 14,737,744 shares of the bank’s stock valued at $350,906,000 after purchasing an additional 181,386 shares during the period. Millennium Management LLC raised its holdings in shares of TCF Financial by 68.0% during the second quarter. Millennium Management LLC now owns 4,831,359 shares of the bank’s stock valued at $118,948,000 after purchasing an additional 1,954,772 shares during the period. LSV Asset Management raised its holdings in shares of TCF Financial by 1.6% during the third quarter. LSV Asset Management now owns 3,840,764 shares of the bank’s stock valued at $91,448,000 after purchasing an additional 61,612 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of TCF Financial by 15.8% during the third quarter. Bank of New York Mellon Corp now owns 2,515,916 shares of the bank’s stock valued at $59,903,000 after purchasing an additional 343,622 shares during the period. Finally, FMR LLC raised its holdings in shares of TCF Financial by 1.2% during the second quarter. FMR LLC now owns 2,067,978 shares of the bank’s stock valued at $50,914,000 after purchasing an additional 23,700 shares during the period. 79.09% of the stock is currently owned by institutional investors and hedge funds.

TCF opened at $21.10 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.50. TCF Financial Co. has a fifty-two week low of $20.05 and a fifty-two week high of $27.34. The stock has a market capitalization of $3.51 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09.

TCF Financial (NYSE:TCF) last posted its earnings results on Monday, October 22nd. The bank reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. TCF Financial had a net margin of 20.22% and a return on equity of 12.89%. The company had revenue of $365.57 million for the quarter, compared to analyst estimates of $367.63 million. During the same quarter in the prior year, the business posted $0.29 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that TCF Financial Co. will post 1.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Thursday, November 15th were issued a $0.15 dividend. The ex-dividend date was Wednesday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.84%. TCF Financial’s dividend payout ratio is presently 50.00%.

TCF has been the topic of several research reports. Bank of America upgraded shares of TCF Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $30.00 in a report on Thursday, September 6th. Zacks Investment Research upgraded shares of TCF Financial from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, October 10th. Wells Fargo & Co set a $25.00 price objective on shares of TCF Financial and gave the company a “hold” rating in a report on Tuesday, October 2nd. BMO Capital Markets dropped their price objective on shares of TCF Financial from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Tuesday, October 23rd. Finally, Keefe, Bruyette & Woods upgraded shares of TCF Financial from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $25.69.

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TCF Financial Company Profile

TCF Financial Corporation operates as the 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 deposits; and individual retirement accounts.

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

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