Canandaigua National Bank Trust Co Lowers stake in TCF Financial Corporation (TCB)

TCF Financial Corporation (TCB) : Canandaigua National Bank Trust Co reduced its stake in TCF Financial Corporation by 10.29% during the most recent quarter end. The investment management company now holds a total of 148,166 shares of TCF Financial Corporation which is valued at $2,016,539 after selling 17,000 shares in TCF Financial Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.TCF Financial Corporation makes up approximately 0.57% of Canandaigua National Bank Trust Co’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc added TCB to its portfolio by purchasing 432,717 company shares during the most recent quarter which is valued at $5,889,278. TCF Financial Corporation makes up approx 0.01% of American Century Companies Inc’s portfolio.Parametrica Management Ltd boosted its stake in TCB in the latest quarter, The investment management firm added 13,974 additional shares and now holds a total of 29,808 shares of TCF Financial Corporation which is valued at $406,879. TCF Financial Corporation makes up approx 0.58% of Parametrica Management Ltd’s portfolio.

TCF Financial Corporation opened for trading at $13.54 and hit $13.72 on the upside on Friday, eventually ending the session at $13.59, with a gain of 0.44% or 0.06 points. The heightened volatility saw the trading volume jump to 16,69,372 shares. Company has a market cap of $2,325 M.

On the company’s financial health, TCF Financial Corporation reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.29. The company had revenue of $330.90 million for the quarter, compared to analysts expectations of $327.89 million. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Investors should note that on Jul 20, 2016, TCF Financial Corporation announced a cash dividend of $0.0750. The company’s management has announced Aug 11, 2016 as the ex-dividend date and fixed the record date on Aug 15, 2016. The payable date has been fixed on Sep 1, 2016.

Many Wall Street Analysts have commented on TCF Financial Corporation. Shares were Downgraded by FBR Capital on Jul 25, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 14 from a previous price target of $16 .

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. Lending includes consumer real estate commercial real estate and business lending leasing and equipment finance inventory finance and auto finance. Funding includes branch banking and treasury services which includes the Company’s investment and borrowing portfolios and management of capital debt and market risks including interest rate and liquidity risks. Support Services includes Holding Company and corporate functions. TCF Bank’s subsidiaries principally engage in leasing inventory finance and auto finance activities. TCF delivers retail banking products in over 40 states; commercial leasing and equipment finance business in all 50 states; commercial inventory finance business in all 50 states and Canada and indirect auto finance business in all 50 states.

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