TriState Capital (NASDAQ:TSC) Given New $29.00 Price Target at Raymond James

TriState Capital (NASDAQ:TSC) had its price target hoisted by Raymond James from $26.00 to $29.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage currently has a strong-buy rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on TSC. Zacks Investment Research downgraded TriState Capital from a buy rating to a hold rating in a report on Wednesday, March 31st. B. Riley upped their price objective on TriState Capital from $19.00 to $21.00 and gave the stock a neutral rating in a research report on Tuesday, February 2nd. Wedbush upgraded TriState Capital from a neutral rating to an outperform rating in a research report on Tuesday. Finally, DA Davidson downgraded TriState Capital from a buy rating to a neutral rating in a research note on Tuesday, March 30th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $24.50.

TSC stock opened at $23.40 on Wednesday. TriState Capital has a 52 week low of $9.31 and a 52 week high of $26.42. The business has a 50-day simple moving average of $24.24 and a 200 day simple moving average of $18.38. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.75. The company has a market cap of $775.34 million, a PE ratio of 16.96 and a beta of 2.10.

TriState Capital (NASDAQ:TSC) last issued its quarterly earnings results on Tuesday, January 26th. The financial services provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.11. The company had revenue of $50.07 million during the quarter, compared to the consensus estimate of $48.55 million. TriState Capital had a net margin of 16.39% and a return on equity of 9.39%. On average, analysts anticipate that TriState Capital will post 1.16 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of TSC. Hsbc Holdings PLC lifted its holdings in TriState Capital by 19.3% during the 4th quarter. Hsbc Holdings PLC now owns 91,379 shares of the financial services provider’s stock worth $1,590,000 after buying an additional 14,809 shares during the period. Stone Point Capital LLC bought a new position in shares of TriState Capital during the fourth quarter worth about $48,199,000. JPMorgan Chase & Co. lifted its stake in shares of TriState Capital by 84.3% in the fourth quarter. JPMorgan Chase & Co. now owns 133,056 shares of the financial services provider’s stock worth $2,315,000 after acquiring an additional 60,860 shares during the period. Truist Financial Corp lifted its stake in shares of TriState Capital by 55.8% in the fourth quarter. Truist Financial Corp now owns 197,962 shares of the financial services provider’s stock worth $3,445,000 after acquiring an additional 70,895 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in TriState Capital by 105.5% in the fourth quarter. Squarepoint Ops LLC now owns 33,394 shares of the financial services provider’s stock valued at $581,000 after acquiring an additional 17,147 shares during the last quarter. 76.58% of the stock is currently owned by hedge funds and other institutional investors.

About TriState Capital

TriState Capital Holdings, Inc is bank holding company, which provides commercial banking, private banking, and investment management services. It operates through the following segment: Bank, and Investment Management, and Parent and Other. The Bank segment focuses in commercial banking products and services to middle-market businesses and private banking products and services to high-net-worth individuals.

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Analyst Recommendations for TriState Capital (NASDAQ:TSC)

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