Tristate Capital (TSC) Coverage Initiated at Raymond James Financial
Analysts at Raymond James Financial began coverage on shares of Tristate Capital (NASDAQ:TSC) in a research report issued on Monday. The firm set an “outperform” rating and a $28.00 price target on the financial services provider’s stock. Raymond James Financial’s price target would suggest a potential upside of 20.17% from the stock’s previous close.
TSC has been the topic of several other reports. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $28.00 target price on shares of Tristate Capital in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded Tristate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. BidaskClub upgraded Tristate Capital from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Finally, ValuEngine downgraded Tristate Capital from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $28.60.
Tristate Capital (NASDAQ:TSC) opened at $23.30 on Monday. Tristate Capital has a 12-month low of $19.65 and a 12-month high of $26.30. The firm has a market capitalization of $671.67, a PE ratio of 20.00, a P/E/G ratio of 1.90 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.
Tristate Capital (NASDAQ:TSC) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $35.31 million for the quarter, compared to the consensus estimate of $36.41 million. analysts predict that Tristate Capital will post 1.23 EPS for the current fiscal year.
In other Tristate Capital news, Director James J. Dolan sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $24.32, for a total transaction of $291,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 23.40% of the company’s stock.
A number of large investors have recently made changes to their positions in TSC. Bank of America Corp DE grew its stake in shares of Tristate Capital by 1.3% in the first quarter. Bank of America Corp DE now owns 5,140 shares of the financial services provider’s stock valued at $120,000 after buying an additional 67 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Tristate Capital in the first quarter valued at about $219,000. 1st Global Advisors Inc. acquired a new stake in shares of Tristate Capital in the second quarter valued at about $235,000. Citadel Advisors LLC acquired a new stake in shares of Tristate Capital in the third quarter valued at about $255,000. Finally, Vident Investment Advisory LLC acquired a new stake in shares of Tristate Capital in the third quarter valued at about $267,000. Institutional investors 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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