$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.
TSC has been the topic of a number of research analyst reports. Raymond James Financial initiated coverage on Tristate Capital in a research report on Monday. They set an “outperform” rating and a $28.00 price target on the stock. ValuEngine lowered Tristate Capital from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $28.00 price target on shares of Tristate Capital in a research report on Tuesday, August 22nd. BidaskClub upgraded Tristate Capital from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 20th. Finally, Zacks Investment Research lowered Tristate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Tristate Capital currently has a consensus rating of “Buy” and a consensus target price of $28.60.
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.
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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.
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