Tristate Capital Holdings Inc (TSC) Receives Average Recommendation of “Buy” from Analysts

Tristate Capital Holdings Inc (NASDAQ:TSC) has earned an average rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $31.50.

Several analysts have weighed in on TSC shares. ValuEngine raised shares of Tristate Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. BidaskClub raised shares of Tristate Capital from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Zacks Investment Research raised shares of Tristate Capital from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, July 24th. Maxim Group boosted their target price on shares of Tristate Capital from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Tristate Capital in a research report on Monday, October 8th.

In other Tristate Capital news, CEO Brian S. Fetterolf acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, October 23rd. The stock was acquired at an average cost of $23.62 per share, for a total transaction of $59,050.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James J. Dolan acquired 8,000 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were acquired at an average price of $24.48 per share, with a total value of $195,840.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 16,300 shares of company stock worth $398,306. 23.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in TSC. Wells Fargo & Company MN lifted its stake in Tristate Capital by 14.6% during the 1st quarter. Wells Fargo & Company MN now owns 36,823 shares of the financial services provider’s stock valued at $856,000 after acquiring an additional 4,700 shares during the period. BlackRock Inc. lifted its stake in Tristate Capital by 41.9% during the 1st quarter. BlackRock Inc. now owns 1,847,540 shares of the financial services provider’s stock valued at $42,954,000 after acquiring an additional 545,224 shares during the period. Dimensional Fund Advisors LP lifted its stake in Tristate Capital by 14.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,069,693 shares of the financial services provider’s stock valued at $24,870,000 after acquiring an additional 138,565 shares during the period. A.R.T. Advisors LLC acquired a new stake in Tristate Capital during the 1st quarter valued at approximately $310,000. Finally, Millennium Management LLC lifted its stake in Tristate Capital by 1,932.5% during the 1st quarter. Millennium Management LLC now owns 365,953 shares of the financial services provider’s stock valued at $8,508,000 after acquiring an additional 347,948 shares during the period. Institutional investors and hedge funds own 65.45% of the company’s stock.

Shares of Tristate Capital stock traded up $0.01 on Wednesday, reaching $25.43. The stock had a trading volume of 181,200 shares, compared to its average volume of 159,654. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Tristate Capital has a 1 year low of $21.90 and a 1 year high of $30.10. The company has a market cap of $724.31 million, a P/E ratio of 20.51, a PEG ratio of 1.22 and a beta of 0.63.

Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Tristate Capital had a net margin of 22.52% and a return on equity of 11.63%. The firm had revenue of $41.57 million for the quarter, compared to the consensus estimate of $43.64 million. As a group, equities research analysts forecast that Tristate Capital will post 1.71 EPS for the current fiscal year.

Tristate Capital Company Profile

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: Growth Stocks, What They Are, What They Are Not

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.

Leave a Reply