TCF Financial Co. (NYSE:TCF) – Wedbush dropped their Q4 2019 earnings estimates for TCF Financial in a research report issued to clients and investors on Friday, December 20th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $0.99 per share for the quarter, down from their prior estimate of $1.01. Wedbush also issued estimates for TCF Financial’s Q3 2020 earnings at $1.09 EPS.
TCF Financial (NYSE:TCF) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.01. TCF Financial had a net margin of 20.10% and a return on equity of 14.01%. The business had revenue of $459.81 million during the quarter, compared to analyst estimates of $483.69 million. During the same period last year, the business earned $1.00 EPS. The business’s revenue was up 48.0% on a year-over-year basis.
Other analysts also recently issued reports about the company. DA Davidson restated a “buy” rating on shares of TCF Financial in a research note on Monday, November 18th. TheStreet raised TCF Financial from a “c+” rating to a “b-” rating in a report on Wednesday, November 27th. Wells Fargo & Co reduced their price target on TCF Financial from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Janney Montgomery Scott lowered TCF Financial from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Tuesday, December 17th. Finally, Bank of America started coverage on TCF Financial in a report on Monday, October 28th. They set a “neutral” rating and a $44.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. TCF Financial currently has an average rating of “Buy” and an average price target of $41.27.
NYSE:TCF opened at $47.05 on Monday. 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 firm has a 50-day moving average of $43.31 and a two-hundred day moving average of $34.55. The stock has a market cap of $3.33 billion, a P/E ratio of 24.76, a PEG ratio of 1.36 and a beta of 1.30. TCF Financial has a 1-year low of $34.62 and a 1-year high of $47.71.
The business also recently announced a dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, November 14th. TCF Financial’s dividend payout ratio (DPR) is presently 73.68%.
In other news, Director Arthur A. Weiss acquired 4,800 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $41.91 per share, with a total value of $201,168.00. Following the completion of the acquisition, the director now directly owns 32,751 shares in the company, valued at $1,372,594.41. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vance K. Opperman acquired 10,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were purchased at an average price of $42.51 per share, for a total transaction of $425,100.00. Corporate insiders own 2.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. acquired a new stake in TCF Financial during the third quarter worth about $985,000. Millennium Management LLC increased its position in TCF Financial by 2,942.4% in the third quarter. Millennium Management LLC now owns 2,253,957 shares of the bank’s stock worth $85,808,000 after buying an additional 2,179,873 shares during the period. Man Group plc acquired a new stake in TCF Financial in the third quarter worth $6,101,000. Squarepoint Ops LLC lifted its stake in TCF Financial by 1,196.1% in the third quarter. Squarepoint Ops LLC now owns 277,481 shares of the bank’s stock valued at $10,564,000 after buying an additional 256,072 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in TCF Financial in the third quarter valued at $497,000. 80.46% of the stock is currently owned by institutional investors.
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.