Retirement Systems of Alabama Buys Shares of 222,317 TCF Financial Co. (TCF)
Retirement Systems of Alabama bought a new position in shares of TCF Financial Co. (NYSE:TCF) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 222,317 shares of the bank’s stock, valued at approximately $4,557,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. New Mexico Educational Retirement Board acquired a new stake in TCF Financial during the 4th quarter worth approximately $871,000. LS Investment Advisors LLC purchased a new position in TCF Financial in the 4th quarter worth approximately $375,000. Swiss National Bank purchased a new position in TCF Financial in the 4th quarter worth approximately $5,693,000. California Public Employees Retirement System boosted its holdings in TCF Financial by 1.5% in the 4th quarter. California Public Employees Retirement System now owns 552,446 shares of the bank’s stock worth $11,325,000 after acquiring an additional 8,392 shares during the period. Finally, Anchor Capital Advisors LLC purchased a new position in TCF Financial in the 4th quarter worth approximately $1,383,000. 79.11% of the stock is owned by hedge funds and other institutional investors.
TCF has been the subject of a number of analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $20.00 price target on shares of TCF Financial in a report on Friday, October 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.00 price target on shares of TCF Financial in a report on Sunday, October 29th. JPMorgan Chase & Co. upped their price target on TCF Financial from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Barclays upped their price target on TCF Financial from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Finally, DA Davidson upgraded TCF Financial from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. TCF Financial has an average rating of “Hold” and a consensus target price of $21.58.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.15 per share. This is a boost from TCF Financial’s previous quarterly dividend of $0.08. This represents a $0.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, February 14th. TCF Financial’s dividend payout ratio is 41.67%.
In other news, Director Peter Bell sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $20.53, for a total transaction of $307,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Retirement Systems of Alabama Buys Shares of 222,317 TCF Financial Co. (TCF)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2018/02/22/retirement-systems-of-alabama-buys-shares-of-222317-tcf-financial-co-tcf.html.
About TCF Financial
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.
Want to see what other hedge funds are holding TCF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TCF Financial Co. (NYSE:TCF).
Receive News & Ratings for TCF Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCF Financial and related companies with MarketBeat.com's FREE daily email newsletter.