Carlson Capital Management Lowers stake in TCF Financial Corporation (TCB)

TCF Financial Corporation (TCB) : Carlson Capital Management reduced its stake in TCF Financial Corporation by 7.09% during the most recent quarter end. The investment management company now holds a total of 131,091 shares of TCF Financial Corporation which is valued at $1,928,349 after selling 9,998 shares in TCF Financial Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.TCF Financial Corporation makes up approximately 0.67% of Carlson Capital Management’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in TCB in the latest quarter, The investment management firm added 1,179 additional shares and now holds a total of 59,418 shares of TCF Financial Corporation which is valued at $874,039. TCF Financial Corporation makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.First Mercantile Trust Co reduced its stake in TCB by selling 4,300 shares or 24.84% in the most recent quarter. The Hedge Fund company now holds 13,010 shares of TCB which is valued at $190,857. TCF Financial Corporation makes up approx 0.03% of First Mercantile Trust Co’s portfolio.Chevy Chase Trust Holdings reduced its stake in TCB by selling 71 shares or 0.48% in the most recent quarter. The Hedge Fund company now holds 14,718 shares of TCB which is valued at $215,619.Bnp Paribas Arbitrage Sa reduced its stake in TCB by selling 59,316 shares or 66.95% in the most recent quarter. The Hedge Fund company now holds 29,281 shares of TCB which is valued at $428,967.

TCF Financial Corporation closed down -0.05 points or -0.34% at $14.66 with 9,09,146 shares getting traded on Tuesday. Post opening the session at $14.73, the shares hit an intraday low of $14.55 and an intraday high of $14.835 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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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