Boenning Scattergood Reiterates Hold Rating for Tristate Capital (NASDAQ:TSC)

Boenning Scattergood restated their hold rating on shares of Tristate Capital (NASDAQ:TSC) in a research note published on Thursday, AnalystRatings.com reports.

TSC has been the topic of several other reports. Maxim Group restated a buy rating and set a $28.00 price objective on shares of Tristate Capital in a research note on Sunday, April 21st. Zacks Investment Research lowered shares of Hanger from a hold rating to a sell rating in a research note on Tuesday, May 28th. Stephens restated a buy rating and set a $25.00 price objective on shares of Tristate Capital in a research note on Friday, June 14th. Finally, BidaskClub lowered shares of Zebra Technologies from a buy rating to a hold rating in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Tristate Capital presently has a consensus rating of Hold and a consensus target price of $26.00.

Tristate Capital stock opened at $19.91 on Thursday. The firm has a market cap of $584.44 million, a price-to-earnings ratio of 10.37, a PEG ratio of 0.88 and a beta of 1.13. The business’s 50-day moving average price is $20.99. Tristate Capital has a fifty-two week low of $18.20 and a fifty-two week high of $30.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.92.

Tristate Capital (NASDAQ:TSC) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $43.28 million for the quarter, compared to analyst estimates of $45.35 million. Tristate Capital had a net margin of 20.29% and a return on equity of 13.26%. Sell-side analysts anticipate that Tristate Capital will post 1.88 earnings per share for the current fiscal year.

In related news, CFO David J. Demas purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of $26.40 per share, for a total transaction of $26,400.00. Following the purchase, the chief financial officer now owns 45,462 shares in the company, valued at $1,200,196.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helen Hanna Casey purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average price of $25.00 per share, for a total transaction of $500,000.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $500,000. The disclosure for this purchase can be found here. 17.50% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BW Gestao de Investimentos Ltda. grew its stake in Tristate Capital by 7.6% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 17,264 shares of the financial services provider’s stock valued at $336,000 after buying an additional 1,212 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Tristate Capital by 345.0% in the 1st quarter. Acadian Asset Management LLC now owns 48,522 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 37,618 shares during the period. Banc Funds Co. LLC boosted its holdings in Tristate Capital by 3.8% in the 1st quarter. Banc Funds Co. LLC now owns 1,345,066 shares of the financial services provider’s stock valued at $27,480,000 after purchasing an additional 49,300 shares during the period. Bank of Montreal Can boosted its holdings in Tristate Capital by 14.4% in the 1st quarter. Bank of Montreal Can now owns 10,073 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 1,265 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Tristate Capital by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,458,693 shares of the financial services provider’s stock valued at $28,386,000 after purchasing an additional 131,522 shares during the period. Institutional investors and hedge funds own 71.65% of the company’s stock.

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. It operates in two segments, Bank and Investment Management. The company's deposit products include checking accounts, money market deposit accounts, and certificates of deposit, as well as promontory's certificate of deposit account registry services and insured cash sweep services.

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