HGK Asset Management Inc. Reduces Holdings in TCF Financial Co. (NYSE:TCF)

HGK Asset Management Inc. cut its stake in shares of TCF Financial Co. (NYSE:TCF) by 17.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,155 shares of the bank’s stock after selling 4,073 shares during the quarter. HGK Asset Management Inc.’s holdings in TCF Financial were worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Water Island Capital LLC boosted its holdings in TCF Financial by 116.7% during the 2nd quarter. Water Island Capital LLC now owns 2,239,055 shares of the bank’s stock valued at $46,550,000 after acquiring an additional 1,205,906 shares during the period. Maltese Capital Management LLC raised its position in TCF Financial by 352.2% during the 2nd quarter. Maltese Capital Management LLC now owns 1,379,200 shares of the bank’s stock valued at $28,674,000 after purchasing an additional 1,074,200 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in TCF Financial by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,172,605 shares of the bank’s stock valued at $24,379,000 after purchasing an additional 35,506 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in TCF Financial by 32.9% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,136,500 shares of the bank’s stock valued at $23,628,000 after purchasing an additional 281,057 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in TCF Financial by 38.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,089,696 shares of the bank’s stock valued at $22,655,000 after purchasing an additional 300,691 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

A number of research analysts have commented on TCF shares. UBS Group upped their price target on TCF Financial from $24.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Raymond James set a $28.00 target price on TCF Financial and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Jaffray Companies set a $52.00 target price on TCF Financial and gave the stock a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $47.00 target price on shares of TCF Financial in a research report on Friday, August 16th. Finally, Morgan Stanley decreased their target price on TCF Financial from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.70.

Shares of TCF opened at $37.99 on Friday. The business’s fifty day simple moving average is $38.28 and its two-hundred day simple moving average is $28.21. 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 12 month low of $34.62 and a 12 month high of $48.16. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 1.36 and a beta of 1.30.

TCF Financial (NYSE:TCF) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.07. The firm had revenue of $363.80 million for the quarter, compared to the consensus estimate of $365.47 million. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS. As a group, research analysts forecast that TCF Financial Co. will post 1.95 EPS for the current year.

About TCF Financial

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

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