Tristate Capital (NASDAQ:TSC) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Tristate Capital (NASDAQ:TSC) from a sell rating to a hold rating in a report released on Thursday, BidAskClub reports.

A number of other research firms also recently issued reports on TSC. Raymond James reduced their price target on shares of Tristate Capital from $28.00 to $24.00 and set an outperform rating on the stock in a research report on Thursday, August 29th. Boenning Scattergood restated a hold rating on shares of Tristate Capital in a research report on Thursday, July 18th. ValuEngine upgraded shares of Tristate Capital from a hold rating to a buy rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Tristate Capital from a buy rating to a hold rating in a research report on Tuesday, May 28th. Finally, Stephens restated a buy rating and issued a $25.00 price target on shares of Tristate Capital in a research report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $25.50.

TSC stock traded up $0.56 during mid-day trading on Thursday, hitting $22.35. 5,688 shares of the company were exchanged, compared to its average volume of 83,502. The company has a market capitalization of $622.29 million, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. Tristate Capital has a twelve month low of $18.20 and a twelve month high of $29.65. The firm has a fifty day simple moving average of $19.97 and a 200 day simple moving average of $21.16.

Tristate Capital (NASDAQ:TSC) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Tristate Capital had a net margin of 20.29% and a return on equity of 13.03%. The company had revenue of $43.28 million during the quarter, compared to analyst estimates of $45.35 million. As a group, sell-side analysts anticipate that Tristate Capital will post 1.84 earnings per share for the current year.

In other news, CEO James F. Getz acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average cost of $19.78 per share, for a total transaction of $494,500.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James J. Dolan acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was purchased at an average price of $19.77 per share, for a total transaction of $98,850.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at $79,080. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 61,662 shares of company stock worth $1,216,163. Insiders own 17.50% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. LPL Financial LLC increased its stake in Tristate Capital by 3.5% during the 2nd quarter. LPL Financial LLC now owns 19,639 shares of the financial services provider’s stock valued at $419,000 after buying an additional 671 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Tristate Capital by 0.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 136,217 shares of the financial services provider’s stock valued at $2,907,000 after buying an additional 921 shares during the period. Aperio Group LLC acquired a new position in Tristate Capital during the 2nd quarter valued at about $25,000. Parametric Portfolio Associates LLC increased its stake in Tristate Capital by 3.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 33,054 shares of the financial services provider’s stock valued at $705,000 after buying an additional 1,227 shares during the period. Finally, Bank of Montreal Can increased its stake in Tristate Capital by 14.4% during the 1st quarter. Bank of Montreal Can now owns 10,073 shares of the financial services provider’s stock valued at $206,000 after buying an additional 1,265 shares during the period. Hedge funds and other institutional investors own 71.06% 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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