Investors who take an interest in TCF Financial Corporation (NASDAQ:TCF) should definitely note that the Lead Independent Director, Vance Opperman, recently paid US$40.05 per share to buy US$401k worth of the stock. That certainly has us anticipating the best, especially since they thusly increased their own holding by 65%, potentially signalling some real optimism.
TCF Financial Insider Transactions Over The Last Year
In fact, the recent purchase by Vance Opperman was the biggest purchase of TCF Financial shares made by an insider individual in the last twelve months, according to our records. That implies that an insider found the current price of US$42.94 per share to be enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. The good news for TCF Financial share holders is that insiders were buying at near the current price.
In the last twelve months TCF Financial insiders were buying shares, but not selling. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
TCF Financial is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership of TCF Financial
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that TCF Financial insiders own 0.9% of the company, worth about US$62m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The TCF Financial Insider Transactions Indicate?
It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of TCF Financial we think they are probably pretty confident of a bright future. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for TCF Financial.
Of course TCF Financial may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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If you spot an error that warrants correction, please contact the editor at firstname.lastname@example.org. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.