Tristate Capital (TSC) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of Tristate Capital (NASDAQ:TSC) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.
Other analysts also recently issued reports about the company. ValuEngine downgraded Tristate Capital from a buy rating to a hold rating in a research note on Monday, October 2nd. Zacks Investment Research raised Tristate Capital from a hold rating to a strong-buy rating and set a $27.00 target price for the company in a research note on Friday, January 12th. Finally, Raymond James Financial began coverage on Tristate Capital in a research note on Monday, December 11th. They issued an outperform rating and a $28.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Tristate Capital currently has a consensus rating of Buy and a consensus price target of $28.33.
Shares of Tristate Capital (NASDAQ:TSC) opened at $23.95 on Friday. Tristate Capital has a 52 week low of $19.65 and a 52 week high of $26.30. The stock has a market capitalization of $685.99, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.48 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, topping analysts’ consensus estimates of $0.30 by $0.05. Tristate Capital had a return on equity of 9.21% and a net margin of 19.58%. The business had revenue of $35.31 million during the quarter, compared to the consensus estimate of $36.41 million. sell-side analysts anticipate that Tristate Capital will post 1.22 earnings per share for the current fiscal year.
In related news, Director James J. Dolan sold 12,000 shares of the firm’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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.40% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. 1st Global Advisors Inc. acquired a new stake in shares of Tristate Capital during the 2nd quarter worth about $235,000. Citadel Advisors LLC acquired a new stake in shares of Tristate Capital during the 3rd quarter worth about $255,000. Vident Investment Advisory LLC acquired a new stake in shares of Tristate Capital during the 3rd quarter worth about $267,000. Voya Investment Management LLC acquired a new stake in shares of Tristate Capital during the 2nd quarter worth about $271,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Tristate Capital during the 2nd quarter worth about $278,000. 59.70% of the stock is owned by hedge funds and other institutional investors.
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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