Tristate Capital Holdings Inc (NASDAQ:TSC) Director David L. Bonvenuto purchased 1,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $25,000.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $25,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NASDAQ:TSC traded up $0.25 during trading hours on Thursday, hitting $23.75. 80,186 shares of the company’s stock traded hands, compared to its average volume of 111,853. Tristate Capital Holdings Inc has a 1 year low of $20.30 and a 1 year high of $26.30. The firm has a market capitalization of $689.54, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.54 and a beta of 0.39. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.07 and a quick ratio of 1.07.
Tristate Capital (NASDAQ:TSC) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $36.94 million during the quarter, compared to analyst estimates of $37.32 million. Tristate Capital had a return on equity of 9.56% and a net margin of 20.96%. equities research analysts expect that Tristate Capital Holdings Inc will post 1.55 EPS for the current fiscal year.
Tristate Capital announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 24th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Tristate Capital from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a report on Friday, January 12th. BidaskClub cut Tristate Capital from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Tristate Capital in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $32.00 target price on shares of Tristate Capital in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $29.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new stake in shares of Tristate Capital in the fourth quarter valued at approximately $263,000. 1492 Capital Management LLC boosted its holdings in shares of Tristate Capital by 137.4% in the fourth quarter. 1492 Capital Management LLC now owns 94,104 shares of the financial services provider’s stock valued at $2,164,000 after purchasing an additional 54,462 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Tristate Capital in the fourth quarter valued at approximately $319,000. Deutsche Bank AG boosted its holdings in shares of Tristate Capital by 0.6% in the fourth quarter. Deutsche Bank AG now owns 393,679 shares of the financial services provider’s stock valued at $9,051,000 after purchasing an additional 2,470 shares during the period. Finally, Clearbridge LLC boosted its holdings in shares of Tristate Capital by 10.5% in the fourth quarter. Clearbridge LLC now owns 528,880 shares of the financial services provider’s stock valued at $12,164,000 after purchasing an additional 50,370 shares during the period. Hedge funds and other institutional investors own 58.71% of the company’s stock.
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About Tristate Capital
TriState Capital Holdings, Inc is a bank holding company. The Company’s subsidiaries include TriState Capital Bank (the Bank), a Pennsylvania chartered bank; Chartwell Investment Partners, LLC (Chartwell), an investment advisor, and Chartwell TSC Securities Corp. (CTSC Securities). The Company operates through two segments: Bank and Investment Management.
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