According to Zacks, “Tristate Capital Holdings, Inc. is a bank holding company for TriState Capital Bank. The company provides commercial and private banking services to middle market businesses, professionals and high net worth individuals. It offers deposit products, commercial and industrial loans as well as cash management services which consist of online balance reporting, online bill payment, remote deposit, liquidity services, wire and ACH services, foreign exchange, controlled disbursement services and capital market services. Tristate Capital Holdings, Inc. is headquartered in Pittsburgh, Pennsylvania. “
Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of TriState Capital from a sell rating to a hold rating in a report on Friday, September 11th. ValuEngine downgraded shares of TriState Capital from a hold rating to a sell rating in a report on Thursday, October 1st. B. Riley downgraded shares of TriState Capital from a buy rating to a neutral rating and lowered their price target for the stock from $18.00 to $15.00 in a report on Wednesday, August 5th. Raymond James reissued a buy rating on shares of TriState Capital in a report on Thursday, August 6th. Finally, Boenning Scattergood began coverage on shares of TriState Capital in a research note on Tuesday, October 13th. They issued a neutral rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. TriState Capital has a consensus rating of Hold and a consensus price target of $19.20.
Shares of NASDAQ:TSC opened at $13.55 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $404.58 million, a PE ratio of 8.36 and a beta of 1.97. TriState Capital has a twelve month low of $7.59 and a twelve month high of $26.43. The company has a 50-day moving average price of $14.06 and a two-hundred day moving average price of $13.73.
TriState Capital (NASDAQ:TSC) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. TriState Capital had a net margin of 17.89% and a return on equity of 10.97%. The firm had revenue of $46.48 million during the quarter, compared to analyst estimates of $48.93 million. Analysts anticipate that TriState Capital will post 1.08 earnings per share for the current fiscal year.
In other TriState Capital news, CEO Brian S. Fetterolf purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was bought at an average cost of $13.75 per share, for a total transaction of $41,250.00. Following the purchase, the chief executive officer now directly owns 211,325 shares in the company, valued at $2,905,718.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Fetterolf purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average cost of $12.92 per share, with a total value of $25,840.00. Following the completion of the transaction, the chief executive officer now owns 213,325 shares in the company, valued at $2,756,159. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 15,900 shares of company stock worth $224,407. 17.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TSC. Wedge Capital Management L L P NC increased its stake in shares of TriState Capital by 148.1% during the second quarter. Wedge Capital Management L L P NC now owns 645,365 shares of the financial services provider’s stock valued at $10,139,000 after purchasing an additional 385,221 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of TriState Capital by 166.1% during the second quarter. Nuveen Asset Management LLC now owns 506,594 shares of the financial services provider’s stock valued at $7,959,000 after purchasing an additional 316,191 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of TriState Capital by 156.2% during the second quarter. Goldman Sachs Group Inc. now owns 345,885 shares of the financial services provider’s stock valued at $5,433,000 after purchasing an additional 210,863 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new position in shares of TriState Capital during the second quarter valued at approximately $3,222,000. Finally, Man Group plc increased its stake in shares of TriState Capital by 258.2% during the second quarter. Man Group plc now owns 169,604 shares of the financial services provider’s stock valued at $2,664,000 after purchasing an additional 122,253 shares in the last quarter. 78.27% of the stock is owned by institutional investors and hedge funds.
About TriState Capital
TriState Capital Holdings, Inc operates as the bank holding company for TriState Capital Bank that provides various commercial and private banking services to middle-market businesses and high-net-worth individuals in the United States. It operates in two segments, Bank and Investment Management. The company's deposit products include checking accounts, money market deposit accounts, and certificates of deposit, as well as promontory's certificate of deposit account registry services and insured cash sweep services.
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