Prudential Financial Inc. Lowers Holdings in TriState Capital Holdings, Inc. (TSC)
Prudential Financial Inc. lessened its position in shares of TriState Capital Holdings, Inc. (NASDAQ:TSC) by 26.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,430 shares of the financial services provider’s stock after selling 29,540 shares during the period. Prudential Financial Inc. owned about 0.29% of TriState Capital worth $1,911,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in TSC. Bank of America Corp DE boosted its stake in shares of TriState Capital by 1.3% during the 1st quarter. Bank of America Corp DE now owns 5,140 shares of the financial services provider’s stock worth $120,000 after buying an additional 67 shares during the last quarter. Alliancebernstein L.P. acquired a new position in shares of TriState Capital during the 1st quarter worth about $219,000. 1st Global Advisors Inc. acquired a new position in shares of TriState Capital during the 2nd quarter worth about $235,000. Stratos Wealth Partners LTD. acquired a new position in shares of TriState Capital during the 2nd quarter worth about $255,000. Finally, Voya Investment Management LLC acquired a new position in shares of TriState Capital during the 2nd quarter worth about $271,000. Hedge funds and other institutional investors own 59.76% of the company’s stock.
Shares of TriState Capital Holdings, Inc. (NASDAQ:TSC) opened at $24.30 on Wednesday. TriState Capital Holdings, Inc. has a one year low of $19.65 and a one year high of $26.30. The stock has a market cap of $700.31, a PE ratio of 20.90, a P/E/G ratio of 1.99 and a beta of 0.33. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.74.
TriState Capital (NASDAQ:TSC) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. TriState Capital had a net margin of 19.58% and a return on equity of 9.21%. The business had revenue of $35.31 million during the quarter, compared to the consensus estimate of $36.41 million. equities analysts predict that TriState Capital Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.
TSC has been the subject of several recent analyst reports. ValuEngine downgraded shares of TriState Capital from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub upgraded shares of TriState Capital from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Zacks Investment Research downgraded shares of TriState Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $28.00 target price on shares of TriState Capital in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.75.
In other TriState Capital news, Director James J. Dolan sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $24.32, for a total transaction of $291,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.40% of the company’s stock.
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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