Morgan Stanley Has $4.58 Million Holdings in TCF Financial Co. (NYSE:TCF)

Morgan Stanley reduced its stake in shares of TCF Financial Co. (NYSE:TCF) by 9.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,272 shares of the bank’s stock after selling 20,338 shares during the quarter. Morgan Stanley owned 0.13% of TCF Financial worth $4,583,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its holdings in TCF Financial by 24.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 5,664,817 shares of the bank’s stock valued at $132,330,000 after buying an additional 1,126,756 shares during the period. JPMorgan Chase & Co. increased its holdings in TCF Financial by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,460,091 shares of the bank’s stock valued at $103,831,000 after buying an additional 332,170 shares during the period. Snyder Capital Management L P increased its holdings in TCF Financial by 4.5% in the 3rd quarter. Snyder Capital Management L P now owns 1,772,655 shares of the bank’s stock valued at $41,409,000 after buying an additional 76,057 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in TCF Financial by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,752,734 shares of the bank’s stock valued at $40,944,000 after buying an additional 244,845 shares during the period. Finally, Federated Hermes Inc. increased its holdings in TCF Financial by 6.9% in the 3rd quarter. Federated Hermes Inc. now owns 1,603,291 shares of the bank’s stock valued at $37,453,000 after buying an additional 103,520 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Shares of NYSE:TCF opened at $37.02 on Friday. TCF Financial Co. has a 12 month low of $16.96 and a 12 month high of $47.12. The company’s 50-day moving average price is $35.30 and its two-hundred day moving average price is $29.35. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.64. The firm has a market cap of $5.65 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.36 and a beta of 1.30.

TCF Financial (NYSE:TCF) last issued its quarterly earnings data on Saturday, October 31st. The bank reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The company had revenue of $420.45 million for the quarter, compared to the consensus estimate of $505.85 million. During the same period in the prior year, the company earned $0.98 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year. As a group, equities analysts predict that TCF Financial Co. will post 1.95 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on TCF shares. TheStreet raised shares of TCF Financial from a “c+” rating to a “b” rating in a report on Friday, November 13th. Wells Fargo & Company lowered shares of TCF Financial from an “overweight” rating to an “equal weight” rating in a report on Tuesday, December 15th. DA Davidson initiated coverage on shares of TCF Financial in a report on Wednesday, October 7th. They issued a “neutral” rating and a $25.00 target price on the stock. Morgan Stanley upped their target price on shares of TCF Financial from $31.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, December 7th. Finally, Piper Sandler lowered shares of TCF Financial from an “overweight” rating to a “neutral” rating and set a $38.83 target price on the stock. in a report on Monday, December 14th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $35.74.

About TCF Financial

TCF Financial Corporation operates as the financial 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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