TriState Capital Holdings, Inc. (NASDAQ:TSC) Expected to Announce Quarterly Sales of $54.97 Million

Wall Street brokerages expect TriState Capital Holdings, Inc. (NASDAQ:TSC) to announce sales of $54.97 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for TriState Capital’s earnings, with the highest sales estimate coming in at $55.20 million and the lowest estimate coming in at $54.72 million. TriState Capital reported sales of $46.48 million during the same quarter last year, which would suggest a positive year over year growth rate of 18.3%. The firm is expected to issue its next earnings report on Wednesday, July 28th.

On average, analysts expect that TriState Capital will report full year sales of $226.70 million for the current financial year, with estimates ranging from $226.00 million to $227.80 million. For the next financial year, analysts anticipate that the firm will report sales of $267.87 million, with estimates ranging from $263.00 million to $273.22 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for TriState Capital.

TriState Capital (NASDAQ:TSC) last announced its quarterly earnings data on Tuesday, April 20th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. TriState Capital had a net margin of 16.39% and a return on equity of 9.39%.

A number of brokerages have recently issued reports on TSC. Raymond James increased their price objective on shares of TriState Capital from $26.00 to $29.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 13th. Zacks Investment Research cut shares of TriState Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, March 31st. Wedbush cut shares of TriState Capital from an “outperform” rating to a “neutral” rating in a research note on Friday, April 23rd. DA Davidson cut shares of TriState Capital from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 30th. Finally, B. Riley raised their target price on shares of TriState Capital from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 26th. Five investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.75.

Shares of NASDAQ TSC traded up $0.12 during midday trading on Wednesday, reaching $22.88. The stock had a trading volume of 46,427 shares, compared to its average volume of 123,792. The stock has a 50-day moving average of $23.56 and a 200-day moving average of $20.20. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $758.66 million, a price-to-earnings ratio of 16.58 and a beta of 2.10. TriState Capital has a 12-month low of $12.09 and a 12-month high of $26.42.

Several large investors have recently modified their holdings of the business. Morgan Stanley lifted its holdings in shares of TriState Capital by 11.4% in the 3rd quarter. Morgan Stanley now owns 23,187 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 2,377 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of TriState Capital in the 4th quarter worth about $307,000. First Trust Advisors LP lifted its holdings in shares of TriState Capital by 7.9% in the 4th quarter. First Trust Advisors LP now owns 11,765 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 859 shares during the last quarter. US Bancorp DE lifted its holdings in shares of TriState Capital by 26.9% in the 4th quarter. US Bancorp DE now owns 2,977 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 631 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of TriState Capital in the 4th quarter worth about $109,000. 76.58% 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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Earnings History and Estimates for TriState Capital (NASDAQ:TSC)

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