Tristate Capital (NASDAQ:TSC)‘s stock had its “hold” rating reissued by equities researchers at Boenning Scattergood in a report released on Thursday.
Other equities research analysts also recently issued reports about the company. Stephens set a $32.00 price target on Tristate Capital and gave the company a “buy” rating in a research report on Thursday. Maxim Group reaffirmed a “buy” rating and issued a $31.00 price target on shares of Tristate Capital in a research report on Thursday. BidaskClub raised Tristate Capital from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Zacks Investment Research downgraded Tristate Capital from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $35.00 target price on shares of Tristate Capital in a research note on Friday, July 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $31.60.
Shares of NASDAQ:TSC traded down $0.33 during midday trading on Thursday, hitting $25.48. The company’s stock had a trading volume of 24,623 shares, compared to its average volume of 144,503. The company has a market cap of $799.00 million, a P/E ratio of 20.55, a P/E/G ratio of 1.34 and a beta of 0.49. Tristate Capital has a fifty-two week low of $21.90 and a fifty-two week high of $30.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.
Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The company had revenue of $41.57 million for the quarter, compared to the consensus estimate of $43.64 million. Tristate Capital had a return on equity of 10.73% and a net margin of 22.41%. As a group, equities analysts predict that Tristate Capital will post 1.72 EPS for the current year.
In related news, Chairman James F. Getz sold 10,000 shares of the stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $29.86, for a total value of $298,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Wealth Management LLC bought a new position in Tristate Capital during the second quarter worth about $229,000. California Public Employees Retirement System bought a new position in Tristate Capital during the second quarter worth about $202,000. OMERS ADMINISTRATION Corp bought a new position in Tristate Capital during the second quarter worth about $222,000. Cubist Systematic Strategies LLC bought a new position in Tristate Capital during the second quarter worth about $230,000. Finally, Van Hulzen Asset Management LLC bought a new position in Tristate Capital during the second quarter worth about $239,000. Hedge funds and other institutional investors own 66.02% of the company’s stock.
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. The company operates in two segments, Bank and Investment Management.
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