The Ameriprise Financial Inc. Reduces Stake in TCF Financial Corp. (TCB)

The Ameriprise Financial Inc. Reduces Stake in TCF Financial Corp. (TCB)

Ameriprise Financial Inc. cut its position in TCF Financial Corp. (NYSE:TCB) by 24.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 453,510 shares of the company’s stock after selling 146,378 shares during the period. Ameriprise Financial Inc. owned approximately 0.27% of TCF Financial Corp. worth $5,736,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in TCF Financial Corp. during the second quarter worth about $130,000. Oakbrook Investments LLC boosted its stake in shares of TCF Financial Corp. by 11.3% in the second quarter. Oakbrook Investments LLC now owns 15,716 shares of the company’s stock valued at $199,000 after buying an additional 1,600 shares in the last quarter. HBK Investments L P boosted its stake in shares of TCF Financial Corp. by 21.0% in the first quarter. HBK Investments L P now owns 16,700 shares of the company’s stock valued at $205,000 after buying an additional 2,900 shares in the last quarter. Ngam Advisors L.P. boosted its stake in shares of TCF Financial Corp. by 12.5% in the first quarter. Ngam Advisors L.P. now owns 17,566 shares of the company’s stock valued at $215,000 after buying an additional 1,953 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of TCF Financial Corp. by 35.1% in the second quarter. LS Investment Advisors LLC now owns 17,349 shares of the company’s stock valued at $219,000 after buying an additional 4,509 shares in the last quarter. Hedge funds and other institutional investors own 78.20% of the company’s stock.

Shares of TCF Financial Corp. (NYSE:TCB) traded down 3.21% on Thursday, hitting $14.17. The stock had a trading volume of 206,403 shares. The company has a market cap of $2.37 billion, a P/E ratio of 12.43 and a beta of 1.12. The company has a 50-day moving average of $14.49 and a 200-day moving average of $13.56. TCF Financial Corp. has a 52-week low of $10.37 and a 52-week high of $15.94.

TCF Financial Corp. (NYSE:TCB) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. TCF Financial Corp. had a return on equity of 10.14% and a net margin of 15.34%. The company had revenue of $330.90 million for the quarter, compared to analysts’ expectations of $214.32 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts anticipate that TCF Financial Corp. will post $1.18 EPS for the current fiscal year.

TCB has been the subject of several analyst reports. Deutsche Bank AG increased their target price on TCF Financial Corp. from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Group restated a “hold” rating and set a $13.50 target price on shares of TCF Financial Corp. in a report on Thursday, July 7th. JPMorgan Chase & Co. restated a “hold” rating on shares of TCF Financial Corp. in a report on Saturday, July 9th. Zacks Investment Research upgraded TCF Financial Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 25th. Finally, FBR & Co cut TCF Financial Corp. from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $16.00 to $14.00 in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. TCF Financial Corp. currently has a consensus rating of “Hold” and a consensus price target of $14.68.

TCF Financial Corp. Company 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: Lending, Funding and Support Services. Its Lending segment includes consumer real estate, commercial real estate and business lending, leasing and equipment finance, inventory finance and auto finance.

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