TCF Financial Corporation (NYSE:TCB) stated gains of 233,293 shares or 5.5% in the short interest. The short interest registered from 4,217,006 on May 31,2016 to 4,450,299 on June 15,2016. In terms of floated shares, the shorted positions stood at 2.8%. The stock has been averaging 1,164,555 shares daily in trading and would need 4 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
TCF Financial Corporation (NYSE:TCB): The stock opened at $12.41 on Friday but the bulls could not build on the opening and the stock topped out at $12.88 for the day. The stock traded down to $12.36 during the day, due to lack of any buying support eventually closed down at $12.47 with a loss of -7.97% for the day. The stock had closed at $13.55 on the previous day. The total traded volume was 2,527,091 shares.
The company shares have dropped -25.06% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $17.07 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $13.58 and the 200 Day Moving Average price is recorded at $12.84.
TCF Financial Corporation (NYSE:TCB) has tumbled 4.59% during the past week and has dropped 13.04% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.01%. TCF Financial Corporation (NYSE:TCB) has underperformed the index by 10.41% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
TCF Financial Corporation (TCF) is a bank holding company. The Companys 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 Companys 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 Banks 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.