Canandaigua National Bank & Trust Co. cut its stake in TCF Financial Corp. (NYSE:TCB) by 10.3% during the second quarter, Holdings Channel reports. The fund owned 148,166 shares of the company’s stock after selling 17,000 shares during the period. Canandaigua National Bank & Trust Co. owned about 0.09% of TCF Financial Corp. worth $1,874,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TCB. Riverhead Capital Management LLC raised its stake in shares of TCF Financial Corp. by 524.9% in the first quarter. Riverhead Capital Management LLC now owns 240,569 shares of the company’s stock valued at $2,949,000 after buying an additional 202,069 shares during the last quarter. Rafferty Asset Management LLC raised its stake in TCF Financial Corp. by 45.8% in the first quarter. Rafferty Asset Management LLC now owns 23,638 shares of the company’s stock worth $290,000 after buying an additional 7,424 shares during the last quarter. JPMorgan Chase & Co. raised its stake in TCF Financial Corp. by 75.7% in the first quarter. JPMorgan Chase & Co. now owns 2,459,051 shares of the company’s stock worth $30,149,000 after buying an additional 1,059,825 shares during the last quarter. BlackRock Japan Co. Ltd acquired a new stake in TCF Financial Corp. during the first quarter worth about $259,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in TCF Financial Corp. by 14.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,606,168 shares of the company’s stock worth $68,732,000 after buying an additional 710,999 shares during the last quarter. 78.20% of the stock is owned by institutional investors.

TCF Financial Corp. (NYSE:TCB) traded down 0.35% on Tuesday, reaching $14.44. 843,148 shares of the company’s stock were exchanged. The company has a market capitalization of $2.42 billion, a PE ratio of 12.67 and a beta of 1.17. TCF Financial Corp. has a 1-year low of $10.37 and a 1-year high of $15.94. The company has a 50 day moving average price of $14.23 and a 200-day moving average price of $13.31.

TCF Financial Corp. (NYSE:TCB) last released its earnings results on Friday, July 22nd. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates 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 earned $330.90 million during the quarter, compared to the consensus estimate of $214.32 million. During the same quarter last year, the company earned $0.29 earnings per share. TCF Financial Corp.’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that TCF Financial Corp. will post $1.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, August 11th. TCF Financial Corp.’s dividend payout ratio (DPR) is currently 26.09%.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of TCF Financial Corp. in a report on Saturday, July 9th. Jefferies Group reaffirmed a “hold” rating and set a $13.50 target price on shares of TCF Financial Corp. in a report on Thursday, July 7th. Zacks Investment Research lowered shares of TCF Financial Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Keefe, Bruyette & Woods upped their target price on shares of TCF Financial Corp. from $15.00 to $15.50 and gave the stock a “market perform” rating in a report on Monday, July 25th. Finally, FBR & Co lowered shares of TCF Financial Corp. from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $16.00 to $14.00 in a report on Monday, July 25th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.55.

About TCF Financial Corp.

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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