TCF Financial Co. (NYSE:TCF) declared a quarterly dividend on Wednesday, July 29th, Wall Street Journal reports. Shareholders of record on Friday, August 14th will be given a dividend of 0.35 per share by the bank on Tuesday, September 1st. This represents a $1.40 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Thursday, August 13th.
TCF Financial has a payout ratio of 57.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect TCF Financial to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 70.0%.
TCF opened at $26.97 on Thursday. The business’s 50-day moving average price is $28.88 and its two-hundred day moving average price is $31.55. TCF Financial has a 1 year low of $16.96 and a 1 year high of $47.46. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.97.
TCF Financial (NYSE:TCF) last released its quarterly earnings results on Monday, July 27th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The firm had revenue of $511.41 million for the quarter, compared to the consensus estimate of $527.75 million. During the same quarter last year, the business posted $0.56 EPS. Sell-side analysts anticipate that TCF Financial will post 1.95 earnings per share for the current fiscal year.
Several research firms have issued reports on TCF. Wedbush raised TCF Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $28.00 to $31.00 in a research note on Friday, April 17th. UBS Group lowered their target price on TCF Financial from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Morgan Stanley lifted their target price on TCF Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. lifted their target price on TCF Financial from $27.50 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, TheStreet raised TCF Financial from a “c” rating to a “b-” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. TCF Financial presently has an average rating of “Buy” and an average target price of $39.75.
In other news, Director Ronald A. Klein sold 8,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $30.36, for a total transaction of $242,880.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is owned by corporate insiders.
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.
Recommended Story: What is a Fiduciary?
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.