TCF Financial Co. (NYSE:TCF) declared a quarterly dividend on Wednesday, July 29th, Wall Street Journal reports. Shareholders of record on Friday, August 14th will be given a dividend of 0.35 per share by the bank on Tuesday, September 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Thursday, August 13th.
TCF Financial has a payout ratio of 57.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TCF Financial to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 70.0%.
Shares of NYSE TCF opened at $26.97 on Thursday. TCF Financial has a 1 year low of $16.96 and a 1 year high of $47.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day moving average is $28.88 and its 200 day moving average is $31.55. The stock has a market capitalization of $4.10 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.36 and a beta of 1.30.
In other news, Director Ronald A. Klein sold 8,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $30.36, for a total value of $242,880.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by company insiders.
TCF has been the subject of several research reports. Piper Sandler increased their price objective on shares of TCF Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Morgan Stanley raised their target price on shares of TCF Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, June 8th. UBS Group lowered their target price on shares of TCF Financial from $32.00 to $31.00 and set a “buy” rating for the company in a report on Friday, May 15th. TheStreet upgraded shares of TCF Financial from a “c” rating to a “b-” rating in a report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of TCF Financial from $27.50 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $39.75.
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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