TCF Financial Co. (NYSE:TCF) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its holdings in shares of TCF Financial Co. (NYSE:TCF) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,398,215 shares of the bank’s stock after selling 64,446 shares during the period. Nuveen Asset Management LLC owned approximately 1.58% of TCF Financial worth $70,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its position in TCF Financial by 131.7% in the second quarter. Signaturefd LLC now owns 1,001 shares of the bank’s stock worth $29,000 after buying an additional 569 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of TCF Financial during the second quarter worth $41,000. Canada Pension Plan Investment Board purchased a new stake in shares of TCF Financial during the second quarter valued at $55,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TCF Financial during the second quarter valued at $67,000. Finally, Parallel Advisors LLC boosted its position in shares of TCF Financial by 39.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,650 shares of the bank’s stock valued at $77,000 after purchasing an additional 755 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Shares of TCF opened at $25.17 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $3.83 billion, a PE ratio of 13.25, a PEG ratio of 1.36 and a beta of 1.30. The firm’s 50 day moving average price is $27.17 and its 200 day moving average price is $27.41. TCF Financial Co. has a twelve month low of $16.96 and a twelve month high of $47.46.

TCF Financial (NYSE:TCF) last announced its quarterly earnings results on Monday, July 27th. The bank reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The company had revenue of $511.41 million for the quarter, compared to analyst estimates of $527.75 million. TCF Financial had a net margin of 20.10% and a return on equity of 14.01%. During the same quarter in the prior year, the business posted $0.56 EPS. On average, sell-side analysts anticipate that TCF Financial Co. will post 1.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a $0.35 dividend. The ex-dividend date was Thursday, August 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.56%. TCF Financial’s dividend payout ratio is currently 73.68%.

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of TCF Financial from $34.00 to $32.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Bank of America upgraded shares of TCF Financial from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Monday, June 8th. Piper Sandler reduced their target price on TCF Financial from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Finally, TheStreet upgraded TCF Financial from a “c” rating to a “b-” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $37.10.

In other news, EVP William S. Henak sold 21,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $27.34, for a total transaction of $574,140.00. Following the transaction, the executive vice president now owns 168,923 shares of the company’s stock, valued at approximately $4,618,354.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.50% of the stock is owned by insiders.

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.

Read More: What is Cost of Goods Sold (COGS)?

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

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