Short Interest Update on TCF Financial Corporation (TCB)

TCF Financial Corporation (TCB) : The traders have covered their outstanding shorts in TCF Financial Corporation (TCB) to the tune of -451,611 shares, a change of -10.1%. As on Jul 29, 2016, the outstanding shorts on the stock were 4,451,847 shares, however, by August 15, 2016, the shorts had reduced to 4,000,236 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 2.5% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 958,746 shares. The short interest information was released on Wednesday Aug 24th after the market close.

TCF Financial Corporation (NYSE:TCB): The stock was completely flat for the day, closing at $14.16 on Wednesday. The flat closing masks the intraday volatility in the stock. After opening at $14.17, the stock touched an intraday high of $14.26 and a low of $14.14. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $14.16. The total trading volume on Wednesday was 590,021.


In a related news, The director officer (Chairman & CEO), of Tcf Financial Corp, Cooper William Allen had unloaded 84,066 shares at $15.5 per share in a transaction on November 27, 2015. The total value of transaction was $1,303,023. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.