Analysts expect Tristate Capital Holdings Inc (NASDAQ:TSC) to announce earnings per share (EPS) of $0.44 for the current quarter, Zacks reports. Three analysts have issued estimates for Tristate Capital’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.47. Tristate Capital reported earnings of $0.47 per share during the same quarter last year, which suggests a negative year over year growth rate of 6.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 16th.
On average, analysts expect that Tristate Capital will report full-year earnings of $1.87 per share for the current financial year, with EPS estimates ranging from $1.78 to $1.91. For the next fiscal year, analysts anticipate that the business will post earnings of $2.04 per share, with EPS estimates ranging from $1.95 to $2.14. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Tristate Capital.
Tristate Capital (NASDAQ:TSC) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $43.28 million for the quarter, compared to analysts’ expectations of $45.35 million. Tristate Capital had a return on equity of 13.03% and a net margin of 20.29%.
TSC has been the topic of a number of research reports. Zacks Investment Research cut Tristate Capital from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a report on Thursday, July 18th. Maxim Group restated a “buy” rating and issued a $28.00 price target on shares of Tristate Capital in a report on Sunday, April 21st. BidaskClub cut Tristate Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Finally, Stephens reiterated a “buy” rating and set a $25.00 target price on shares of Tristate Capital in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.00.
In related news, Director Helen Hanna Casey bought 20,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $25.00 per share, for a total transaction of $500,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $500,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David J. Demas bought 1,000 shares of the stock in a transaction on Friday, June 14th. The shares were bought at an average price of $26.40 per share, for a total transaction of $26,400.00. Following the acquisition, the chief financial officer now owns 45,462 shares in the company, valued at approximately $1,200,196.80. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 31,662 shares of company stock worth $743,363. 17.50% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of TSC. Aperio Group LLC purchased a new position in shares of Tristate Capital during the 2nd quarter worth $25,000. Tower Research Capital LLC TRC lifted its stake in shares of Tristate Capital by 2,613.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,384 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,333 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Tristate Capital during the 1st quarter worth $41,000. Legal & General Group Plc lifted its stake in shares of Tristate Capital by 15.2% during the 4th quarter. Legal & General Group Plc now owns 4,375 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 576 shares during the period. Finally, Bessemer Group Inc. purchased a new position in shares of Tristate Capital during the 2nd quarter worth $97,000. 71.57% of the stock is currently owned by institutional investors.
Shares of TSC traded up $0.51 on Friday, reaching $19.67. The stock had a trading volume of 1,429 shares, compared to its average volume of 85,064. The firm has a market capitalization of $583.29 million, a PE ratio of 11.27, a PEG ratio of 0.89 and a beta of 1.03. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average of $20.53 and a 200 day moving average of $21.42. Tristate Capital has a twelve month low of $18.20 and a twelve month high of $30.10.
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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