TCF Financial Co. (TCF) to Issue Quarterly Dividend of $0.35 on September 3rd

TCF Financial Co. (NYSE:TCF) declared a quarterly dividend on Thursday, August 1st, NASDAQ reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.35 per share by the bank on Tuesday, September 3rd. This represents a $1.40 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Wednesday, August 14th. This is a positive change from TCF Financial’s previous quarterly dividend of $0.15.

Shares of NYSE:TCF traded down $1.08 on Monday, hitting $37.84. 35,662 shares of the company traded hands, compared to its average volume of 770,721. TCF Financial has a 52 week low of $34.62 and a 52 week high of $59.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $24.27. The company has a market capitalization of $2.74 billion, a P/E ratio of 19.93, a PEG ratio of 1.36 and a beta of 1.30.

TCF Financial (NYSE:TCF) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.07. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The firm had revenue of $363.80 million during the quarter, compared to the consensus estimate of $365.47 million. During the same period last year, the company earned $0.49 earnings per share. The company’s revenue was down .3% on a year-over-year basis. On average, equities analysts anticipate that TCF Financial will post 1.95 EPS for the current year.



In related news, EVP Michael Scott Jones sold 40,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $19.58, for a total transaction of $783,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

TCF has been the subject of several analyst reports. Piper Jaffray Companies set a $27.00 price target on TCF Financial and gave the company a “buy” rating in a report on Wednesday, May 8th. Morgan Stanley raised their price target on TCF Financial from $22.50 to $45.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. BMO Capital Markets initiated coverage on TCF Financial in a report on Friday, August 2nd. They set an “outperform” rating and a $51.00 price target for the company. ValuEngine upgraded TCF Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Raymond James set a $28.00 price objective on TCF Financial and gave the company a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. TCF Financial presently has an average rating of “Buy” and a consensus target price of $30.90.

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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Dividend History for TCF Financial (NYSE:TCF)

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