Shares of Tristate Capital Holdings Inc (NASDAQ:TSC) have been assigned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $29.33.
A number of research analysts have issued reports on the stock. Stephens restated a “buy” rating and issued a $25.00 target price on shares of Tristate Capital in a report on Friday, June 14th. Boenning Scattergood reaffirmed an “outperform” rating and set a $47.75 price objective on shares of WSFS Financial in a research note on Thursday, June 20th. BidaskClub downgraded shares of Zebra Technologies from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Maxim Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of Tristate Capital in a research note on Sunday, April 21st. Finally, Zacks Investment Research downgraded shares of Hanger from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th.
In other Tristate Capital news, Director Helen Hanna Casey bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average price of $25.00 per share, with a total value of $500,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $500,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David J. Demas bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $26.40 per share, with a total value of $26,400.00. Following the transaction, the chief financial officer now owns 45,462 shares in the company, valued at approximately $1,200,196.80. The disclosure for this purchase can be found here. 17.50% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TSC. BlackRock Inc. grew its position in Tristate Capital by 21.1% in the fourth quarter. BlackRock Inc. now owns 3,855,023 shares of the financial services provider’s stock valued at $75,019,000 after acquiring an additional 670,610 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Tristate Capital by 9.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,458,693 shares of the financial services provider’s stock worth $28,386,000 after purchasing an additional 131,522 shares during the last quarter. Hsbc Holdings PLC bought a new position in Tristate Capital during the fourth quarter worth $2,484,000. MUFG Securities EMEA plc bought a new position in Tristate Capital during the fourth quarter worth $1,421,000. Finally, Clearbridge Investments LLC lifted its stake in Tristate Capital by 10.8% during the first quarter. Clearbridge Investments LLC now owns 739,933 shares of the financial services provider’s stock worth $15,117,000 after purchasing an additional 72,067 shares during the last quarter. 71.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Tristate Capital stock traded down $0.35 on Monday, hitting $20.20. The company’s stock had a trading volume of 81,158 shares, compared to its average volume of 119,212. Tristate Capital has a 52-week low of $18.20 and a 52-week high of $30.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.92. The business has a fifty day moving average of $21.20. The stock has a market cap of $603.23 million, a P/E ratio of 11.67, a P/E/G ratio of 0.90 and a beta of 1.13.
Tristate Capital (NASDAQ:TSC) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.43 by $0.05. The business had revenue of $43.82 million for the quarter, compared to analyst estimates of $43.30 million. Tristate Capital had a net margin of 21.60% and a return on equity of 12.91%. As a group, analysts expect that Tristate Capital will post 1.89 earnings per share for the current year.
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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