Tristate Capital Holdings Inc (NASDAQ:TSC) – Stock analysts at DA Davidson decreased their Q4 2019 earnings per share (EPS) estimates for shares of Tristate Capital in a note issued to investors on Friday, October 18th. DA Davidson analyst R. Gunther now forecasts that the financial services provider will earn $0.43 per share for the quarter, down from their previous forecast of $0.48.
Tristate Capital (NASDAQ:TSC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.07. The company had revenue of $46.56 million during the quarter, compared to the consensus estimate of $45.39 million. Tristate Capital had a return on equity of 13.28% and a net margin of 19.84%.
Tristate Capital stock opened at $23.42 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $21.36 and a two-hundred day moving average of $21.26. The company has a market capitalization of $665.99 million, a price-to-earnings ratio of 13.54 and a beta of 1.07. Tristate Capital has a fifty-two week low of $18.20 and a fifty-two week high of $26.01.
In other news, CEO James F. Getz purchased 25,000 shares of the stock in a transaction on Friday, August 30th. The stock was purchased at an average price of $19.78 per share, with a total value of $494,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Bonvenuto purchased 4,500 shares of the stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $21.15 per share, with a total value of $95,175.00. Following the transaction, the director now owns 18,421 shares of the company’s stock, valued at approximately $389,604.15. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 56,662 shares of company stock valued at $1,117,313. Company insiders own 17.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in Tristate Capital by 2.0% during the second quarter. BlackRock Inc. now owns 4,146,715 shares of the financial services provider’s stock valued at $88,491,000 after acquiring an additional 80,644 shares during the period. Vanguard Group Inc. lifted its stake in shares of Tristate Capital by 0.6% during the second quarter. Vanguard Group Inc. now owns 1,236,574 shares of the financial services provider’s stock worth $26,390,000 after purchasing an additional 7,454 shares in the last quarter. Brown Advisory Inc. lifted its stake in shares of Tristate Capital by 16.4% during the second quarter. Brown Advisory Inc. now owns 1,232,086 shares of the financial services provider’s stock worth $26,293,000 after purchasing an additional 173,682 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Tristate Capital by 1.7% during the second quarter. Northern Trust Corp now owns 290,169 shares of the financial services provider’s stock worth $6,192,000 after purchasing an additional 4,755 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Tristate Capital by 1.3% during the second quarter. Stephens Inc. AR now owns 206,921 shares of the financial services provider’s stock worth $4,416,000 after purchasing an additional 2,562 shares in the last quarter. 71.08% of the stock is owned by hedge funds and other institutional investors.
About Tristate Capital
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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