Insider Trends: Insider at TCF Financial Sells Stock for Taxes Interrupting 90-Day Buy Trend
05:08 PM EDT, 05/10/2021 (MT Newswires) -- On May 06, 2021, Gary Torgow, Director and Executive Chairman, reported a sale of 5,091 TCF Financial (TCF) shares for approximately $239,735 to satisfy tax obligations. After the Form 4 filing with the SEC, Torgow controls a total of 279,908 company shares, with 278,569 shares held directly and 1,339 owned indirectly. The market value of the direct and indirect holdings, based on the prior-day closing price, is approximately $13.2 million.
In the 90 days prior to the date of this filing, there have been 80 insider transactions reported to the SEC for TCF Financial. These transactions came from the activities of 29 separate insiders that resulted in a net acquisition of 235,572 company shares. This compares with the preceding 90-day window of time where there were 21 transactions from 18 insiders which resulted in the net disposition of 92,751 shares.
This represents a lower level of transactions than the peer group average in the 394-company Banks peer group over the last 90-day period. Peer group activity averaged 105.6 transactions per company, with company insiders acquiring on average 7,442 shares.
SEC Story Link http://www.sec.gov/Archives/edgar/data/19612/000001961221000137/xslF345X03/wf-form4_162068068258556.xml
This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.