TCF Financial Co. (TCF) to Issue Quarterly Dividend of $0.08

TCF Financial Co. (AMEX:TCF) declared a quarterly dividend on Thursday, April 20th. Shareholders of record on Monday, May 15th will be paid a dividend of 0.075 per share by the bank on Thursday, June 1st. This represents a $0.30 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, May 11th.

TCF Financial (AMEX:TCF) last announced its quarterly earnings results on Monday, April 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.01. TCF Financial had a net margin of 15.19% and a return on equity of 9.83%. The business had revenue of $325.60 million during the quarter, compared to analyst estimates of $326.93 million. During the same quarter last year, the company posted $0.26 earnings per share. The company’s revenue was up .4% compared to the same quarter last year.

Dividend History for TCF Financial (AMEX:TCF)

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In other news, Director Barry N. Winslow sold 6,000 shares of TCF Financial stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $17.55, for a total value of $105,300.00. Following the completion of the transaction, the director now owns 2,365 shares in the company, valued at $41,505.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

TCF has been the subject of several recent analyst reports. BMO Capital Markets reiterated a “hold” rating and set a $18.00 price objective on shares of TCF Financial in a research report on Monday, April 24th. Deutsche Bank AG cut shares of TCF Financial from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $20.00 in a research report on Friday, January 20th. Royal Bank of Canada decreased their price objective on shares of TCF Financial from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, January 30th. Zacks Investment Research cut shares of TCF Financial from a “buy” rating to a “hold” rating in a research report on Thursday, April 6th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.00 target price on shares of TCF Financial in a research note on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. TCF Financial currently has a consensus rating of “Hold” and an average price target of $17.63.

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.

12 Month Chart for AMEX:TCF

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