Tristate Capital (NASDAQ:TSC) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other brokerages have also recently commented on TSC. ValuEngine cut shares of Tristate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research cut shares of Tristate Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Maxim Group reissued a “buy” rating and issued a $31.00 price target on shares of Tristate Capital in a research report on Thursday, October 18th. Boenning Scattergood reissued a “hold” rating on shares of Tristate Capital in a research report on Thursday, October 18th. Finally, Stephens reissued a “buy” rating and issued a $32.00 price target on shares of Tristate Capital in a research report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Tristate Capital presently has an average rating of “Hold” and a consensus target price of $31.60.

NASDAQ:TSC opened at $23.23 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $672.20 million, a P/E ratio of 18.51, a P/E/G ratio of 1.13 and a beta of 0.65. Tristate Capital has a fifty-two week low of $22.05 and a fifty-two week high of $30.10.

Tristate Capital (NASDAQ:TSC) last posted its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.01. The firm had revenue of $41.57 million during the quarter, compared to analysts’ expectations of $43.64 million. Tristate Capital had a net margin of 22.52% and a return on equity of 11.43%. As a group, equities analysts forecast that Tristate Capital will post 1.71 EPS for the current year.

In other news, VP Brian S. Fetterolf acquired 4,300 shares of Tristate Capital stock in a transaction dated Monday, October 22nd. The shares were acquired at an average cost of $24.27 per share, for a total transaction of $104,361.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director James J. Dolan acquired 8,000 shares of Tristate Capital stock in a transaction dated Monday, October 29th. The stock was purchased at an average price of $24.48 per share, for a total transaction of $195,840.00. The disclosure for this purchase can be found here. Insiders acquired a total of 15,800 shares of company stock valued at $383,831 in the last three months. 23.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Tristate Capital in the 3rd quarter valued at $101,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Tristate Capital during the 3rd quarter worth $119,000. Girard Partners LTD. acquired a new stake in Tristate Capital during the 3rd quarter worth $138,000. Cornerstone Wealth Management LLC acquired a new stake in Tristate Capital during the 2nd quarter worth $229,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Tristate Capital during the 3rd quarter worth $170,000. Institutional investors and hedge funds own 72.50% of the company’s stock.

About Tristate Capital

TriState Capital Holdings, Inc operates as the bank holding company for TriState Capital Bank that provides various commercial and private banking services to middle-market businesses and high-net-worth individuals in the United States. The company operates in two segments, Bank and Investment Management.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for Tristate Capital (NASDAQ:TSC)

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.