Tristate Capital (TSC) Downgraded by ValuEngine

Tristate Capital (NASDAQ:TSC) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other research firms have also weighed in on TSC. BidaskClub upgraded Tristate Capital from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a report on Monday, October 8th. Stephens restated a “buy” rating and set a $32.00 price target on shares of Tristate Capital in a report on Thursday, October 18th. Finally, Maxim Group restated a “buy” rating and set a $31.00 price target on shares of Tristate Capital in a report on Thursday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.60.

NASDAQ:TSC opened at $23.29 on Wednesday. Tristate Capital has a fifty-two week low of $22.05 and a fifty-two week high of $30.10. The firm has a market cap of $724.73 million, a P/E ratio of 18.78, a P/E/G ratio of 1.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02.

Tristate Capital (NASDAQ:TSC) last released its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Tristate Capital had a return on equity of 11.43% and a net margin of 22.52%. The company had revenue of $41.57 million for the quarter, compared to analyst estimates of $43.64 million. Sell-side analysts forecast that Tristate Capital will post 1.71 EPS for the current year.

In other Tristate Capital news, VP Brian S. Fetterolf bought 4,300 shares of Tristate Capital stock in a transaction on Monday, October 22nd. The shares were acquired at an average price of $24.27 per share, for a total transaction of $104,361.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard B. Seidel sold 6,000 shares of the stock in a transaction on Monday, November 26th. The stock was sold at an average price of $25.21, for a total value of $151,260.00. Following the completion of the sale, the director now owns 35,905 shares in the company, valued at approximately $905,165.05. The disclosure for this sale can be found here. In the last quarter, insiders acquired 15,800 shares of company stock worth $383,831. Insiders own 23.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in TSC. Cornerstone Wealth Management LLC purchased a new stake in Tristate Capital in the second quarter worth $229,000. First Trust Advisors LP increased its stake in Tristate Capital by 24.7% in the second quarter. First Trust Advisors LP now owns 68,255 shares of the financial services provider’s stock worth $1,781,000 after purchasing an additional 13,539 shares during the period. IndexIQ Advisors LLC increased its stake in Tristate Capital by 8.6% in the second quarter. IndexIQ Advisors LLC now owns 94,081 shares of the financial services provider’s stock worth $2,456,000 after purchasing an additional 7,475 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in Tristate Capital in the second quarter worth $352,000. Finally, Engineers Gate Manager LP purchased a new stake in Tristate Capital in the second quarter worth $347,000. Institutional investors and hedge funds own 72.50% 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. The company operates in two segments, Bank and Investment Management.

Further Reading: Risk Tolerance

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Analyst Recommendations for Tristate Capital (NASDAQ:TSC)

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