Insider Buying: Tristate Capital Holdings Inc (TSC) CFO Acquires 1,000 Shares of Stock
Tristate Capital Holdings Inc (NASDAQ:TSC) CFO David J. Demas purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $22.80 per share, for a total transaction of $22,800.00. Following the acquisition, the chief financial officer now directly owns 31,859 shares of the company’s stock, valued at $726,385.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Tristate Capital Holdings Inc (TSC) opened at $23.15 on Monday. Tristate Capital Holdings Inc has a 1 year low of $20.30 and a 1 year high of $26.30. The company has a market cap of $669.30, a P/E ratio of 18.67, a P/E/G ratio of 1.45 and a beta of 0.42. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.
Tristate Capital (NASDAQ:TSC) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Tristate Capital had a net margin of 20.96% and a return on equity of 9.56%. The firm had revenue of $36.94 million for the quarter, compared to the consensus estimate of $37.32 million. equities analysts anticipate that Tristate Capital Holdings Inc will post 1.59 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc purchased a new position in Tristate Capital during the fourth quarter valued at approximately $230,000. Voya Investment Management LLC purchased a new position in Tristate Capital during the second quarter valued at approximately $271,000. Citadel Advisors LLC purchased a new position in Tristate Capital during the third quarter valued at approximately $255,000. MetLife Investment Advisors LLC purchased a new position in Tristate Capital during the fourth quarter valued at approximately $263,000. Finally, Vident Investment Advisory LLC purchased a new position in Tristate Capital during the third quarter valued at approximately $267,000. 58.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on TSC shares. Raymond James Financial started coverage on shares of Tristate Capital in a report on Monday, December 11th. They set an “outperform” rating and a $28.00 price target on the stock. BidaskClub lowered shares of Tristate Capital from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Tristate Capital from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a report on Friday, January 12th. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $32.00 price target on shares of Tristate Capital in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $29.00.
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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