Neuberger Berman Group LLC Invests $34.56 Million in TCF Financial Co. (TCF) Stock
Neuberger Berman Group LLC acquired a new stake in TCF Financial Co. (NYSE:TCF) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,028,014 shares of the bank’s stock, valued at approximately $34,557,000. Neuberger Berman Group LLC owned approximately 1.18% of TCF Financial at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC increased its position in TCF Financial by 0.3% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 29,530 shares of the bank’s stock worth $374,000 after buying an additional 94 shares in the last quarter. Teacher Retirement System of Texas increased its position in TCF Financial by 2.0% during the second quarter. Teacher Retirement System of Texas now owns 13,034 shares of the bank’s stock worth $208,000 after buying an additional 255 shares in the last quarter. State of Wisconsin Investment Board increased its position in TCF Financial by 1.3% during the second quarter. State of Wisconsin Investment Board now owns 31,648 shares of the bank’s stock worth $504,000 after buying an additional 420 shares in the last quarter. Utah Retirement Systems increased its position in TCF Financial by 1.8% during the second quarter. Utah Retirement Systems now owns 29,054 shares of the bank’s stock worth $463,000 after buying an additional 500 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in TCF Financial by 0.6% during the second quarter. Great West Life Assurance Co. Can now owns 103,640 shares of the bank’s stock worth $1,651,000 after buying an additional 570 shares in the last quarter. 82.25% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Peter Bell sold 15,000 shares of TCF Financial stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $20.53, for a total value of $307,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by insiders.
Shares of TCF Financial Co. (NYSE TCF) opened at $20.45 on Thursday. The company has a market capitalization of $3,540.09, a price-to-earnings ratio of 18.06, a PEG ratio of 2.79 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.04 and a quick ratio of 1.03. TCF Financial Co. has a 1 year low of $14.58 and a 1 year high of $21.29.
TCF Financial (NYSE:TCF) last announced its quarterly earnings data on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). The business had revenue of $343.30 million during the quarter, compared to analysts’ expectations of $340.45 million. TCF Financial had a net margin of 15.27% and a return on equity of 9.63%. TCF Financial’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. analysts expect that TCF Financial Co. will post 0.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, November 14th. TCF Financial’s dividend payout ratio is currently 26.32%.
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TCF Financial Profile
TCF Financial Corporation (TCF) is a bank holding company. The Company’s principal subsidiary is TCF National Bank (TCF Bank). The Company operates in three segments: Consumer Banking, Wholesale Banking and Enterprise Services. Consumer Banking comprises all of the Company’s consumer-facing businesses.
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