$37.30 Million in Sales Expected for Tristate Capital Holdings Inc (TSC) This Quarter
Wall Street analysts predict that Tristate Capital Holdings Inc (NASDAQ:TSC) will report $37.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Tristate Capital’s earnings, with the highest sales estimate coming in at $38.45 million and the lowest estimate coming in at $36.71 million. Tristate Capital reported sales of $33.16 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.5%. The business is expected to report its next quarterly earnings report on Wednesday, January 24th.
According to Zacks, analysts expect that Tristate Capital will report full-year sales of $37.30 million for the current fiscal year, with estimates ranging from $138.17 million to $140.01 million. For the next year, analysts forecast that the company will report sales of $163.15 million per share, with estimates ranging from $158.71 million to $167.18 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Tristate Capital.
Tristate Capital (NASDAQ:TSC) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. Tristate Capital had a return on equity of 9.21% and a net margin of 19.58%. The company had revenue of $35.31 million for the quarter, compared to analyst estimates of $36.41 million.
Tristate Capital (NASDAQ TSC) remained flat at $$23.30 during mid-day trading on Wednesday. 41,100 shares of the company traded hands, compared to its average volume of 103,600. Tristate Capital has a 12 month low of $19.65 and a 12 month high of $26.30. The company has a market capitalization of $667.37, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.89 and a beta of 0.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.06 and a current ratio of 1.06.
In other news, Director James J. Dolan sold 12,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $24.32, for a total value of $291,840.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 23.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Girard Partners LTD. increased its holdings in Tristate Capital by 1.7% during the 2nd quarter. Girard Partners LTD. now owns 58,767 shares of the financial services provider’s stock worth $1,481,000 after purchasing an additional 1,000 shares in the last quarter. Cortina Asset Management LLC increased its holdings in Tristate Capital by 76.3% during the 3rd quarter. Cortina Asset Management LLC now owns 299,844 shares of the financial services provider’s stock worth $6,866,000 after purchasing an additional 129,790 shares in the last quarter. Northpointe Capital LLC increased its holdings in Tristate Capital by 58.3% during the 3rd quarter. Northpointe Capital LLC now owns 802,392 shares of the financial services provider’s stock worth $18,375,000 after purchasing an additional 295,461 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tristate Capital by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 951,859 shares of the financial services provider’s stock worth $23,987,000 after purchasing an additional 69,071 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in Tristate Capital by 38.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 171,414 shares of the financial services provider’s stock worth $3,925,000 after purchasing an additional 47,400 shares in the last quarter. Institutional investors and hedge funds own 59.76% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “$37.30 Million in Sales Expected for Tristate Capital Holdings Inc (TSC) This Quarter” was posted by Watch List News and is the property of of Watch List News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.watchlistnews.com/37-30-million-in-sales-expected-for-tristate-capital-holdings-inc-tsc-this-quarter/1761315.html.
Tristate Capital Company Profile
TriState Capital Holdings, Inc is a bank holding company. The Company’s subsidiaries include TriState Capital Bank (the Bank), a Pennsylvania chartered bank; Chartwell Investment Partners, LLC (Chartwell), an investment advisor, and Chartwell TSC Securities Corp. (CTSC Securities). The Company operates through two segments: Bank and Investment Management.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tristate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tristate Capital and related companies with MarketBeat.com's FREE daily email newsletter.