Hedge Funds Weigh In On TCF Financial Corporation (TCB)

Because TCF Financial Corporation (NYSE:TCB) has gone through falling interest from the entirety of the hedge funds we track, it’s easy to see that there is a sect of money managers that slashed their full holdings heading into Q4. Intriguingly, Matthew Lindenbaum’s Basswood Capital said goodbye to the biggest stake of the “upper crust” of funds tracked by Insider Monkey, totaling about $1.3 million in stock. Paul Tudor Jones’ fund, Tudor Investment Corp, also said goodbye to its stock, about $0.4 million worth.

Let’s check out hedge fund activity in other stocks similar to TCF Financial Corporation (NYSE:TCB). We will take a look at Ormat Technologies, Inc. (NYSE:ORA), Kennedy-Wilson Holdings Inc (NYSE:KW), Cal-Maine Foods Inc (NASDAQ:CALM), and Myriad Genetics, Inc. (NASDAQ:MYGN). All of these stocks’ market caps are closest to TCB’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $228 million. That figure was $133 million in TCB’s case. Myriad Genetics, Inc. (NASDAQ:MYGN) is the most popular stock in this table. On the other hand Kennedy-Wilson Holdings Inc (NYSE:KW) is the least popular one with only 11 bullish hedge fund positions. TCF Financial Corporation (NYSE:TCB) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MYGN might be a better candidate to consider taking a long position in.

Disclosure: None