BidaskClub downgraded shares of Tristate Capital (NASDAQ:TSC) from a buy rating to a hold rating in a research note issued to investors on Friday, September 14th.
Several other brokerages have also recently issued reports on TSC. Zacks Investment Research upgraded Tristate Capital from a sell rating to a hold rating in a research report on Thursday, July 12th. ValuEngine cut Tristate Capital from a buy rating to a hold rating in a research report on Thursday, August 2nd. Keefe, Bruyette & Woods reiterated a buy rating and set a $35.00 price target on shares of Tristate Capital in a research report on Friday, July 20th. Maxim Group lifted their price target on Tristate Capital from $28.00 to $31.00 and gave the company a buy rating in a research report on Friday, July 20th. Finally, Stephens reiterated a buy rating and set a $28.00 price target on shares of Tristate Capital in a research report on Thursday, July 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $30.80.
TSC remained flat at $$28.21 during trading hours on Friday. The company had a trading volume of 200,021 shares, compared to its average volume of 138,604. Tristate Capital has a 12-month low of $21.90 and a 12-month high of $30.10. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market cap of $799.00 million, a PE ratio of 22.75, a P/E/G ratio of 1.34 and a beta of 0.49.
Tristate Capital (NASDAQ:TSC) last posted its earnings results on Wednesday, July 18th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. Tristate Capital had a return on equity of 10.73% and a net margin of 22.41%. The firm had revenue of $41.29 million for the quarter, compared to analysts’ expectations of $40.72 million. As a group, equities analysts predict that Tristate Capital will post 1.72 EPS for the current fiscal year.
In other news, Chairman James F. Getz sold 10,000 shares of Tristate Capital stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $29.77, for a total transaction of $297,700.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 23.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TSC. Wells Fargo & Company MN grew its holdings in shares of Tristate Capital by 14.6% in the 1st quarter. Wells Fargo & Company MN now owns 36,823 shares of the financial services provider’s stock worth $856,000 after acquiring an additional 4,700 shares during the last quarter. Swiss National Bank grew its holdings in shares of Tristate Capital by 7.3% in the 1st quarter. Swiss National Bank now owns 39,938 shares of the financial services provider’s stock worth $929,000 after acquiring an additional 2,700 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Tristate Capital by 13.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 110,669 shares of the financial services provider’s stock worth $2,574,000 after acquiring an additional 12,984 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Tristate Capital in the 1st quarter worth $349,000. Finally, Cetera Advisor Networks LLC acquired a new position in shares of Tristate Capital in the 1st quarter worth $406,000. Institutional investors and hedge funds own 66.02% of the company’s stock.
Tristate Capital Company Profile
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. The company operates in two segments, Bank and Investment Management.
Further Reading: Fundamental Analysis and Individual Investors
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