Bank of New York Mellon Corp Acquires 48,406 Shares of Tristate Capital Holdings Inc (TSC)

Bank of New York Mellon Corp lifted its position in shares of Tristate Capital Holdings Inc (NASDAQ:TSC) by 19.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,078 shares of the financial services provider’s stock after acquiring an additional 48,406 shares during the quarter. Bank of New York Mellon Corp owned 1.02% of Tristate Capital worth $6,711,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TSC. Northpointe Capital LLC lifted its stake in Tristate Capital by 58.3% in the 3rd quarter. Northpointe Capital LLC now owns 802,392 shares of the financial services provider’s stock valued at $18,375,000 after buying an additional 295,461 shares in the last quarter. Vanguard Group Inc. lifted its stake in Tristate Capital by 7.8% in the 2nd quarter. Vanguard Group Inc. now owns 951,859 shares of the financial services provider’s stock valued at $23,987,000 after buying an additional 69,071 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Tristate Capital by 38.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 171,414 shares of the financial services provider’s stock valued at $3,925,000 after buying an additional 47,400 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Tristate Capital by 88.3% in the 2nd quarter. Alliancebernstein L.P. now owns 17,700 shares of the financial services provider’s stock valued at $446,000 after buying an additional 8,300 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in Tristate Capital in the 2nd quarter valued at about $701,000. 59.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of Tristate Capital Holdings Inc (NASDAQ TSC) opened at $24.10 on Friday. The stock has a market cap of $681.87, a P/E ratio of 20.60, a PEG ratio of 1.46 and a beta of 0.33. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.74. Tristate Capital Holdings Inc has a 1-year low of $19.65 and a 1-year high of $26.30.

Tristate Capital (NASDAQ:TSC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Tristate Capital had a net margin of 19.58% and a return on equity of 9.21%. The firm had revenue of $35.31 million during the quarter, compared to the consensus estimate of $36.41 million. research analysts forecast that Tristate Capital Holdings Inc will post 1.23 earnings per share for the current fiscal year.

In related news, Director James J. Dolan sold 12,000 shares of Tristate Capital stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $24.32, for a total value of $291,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 23.40% of the stock is currently owned by company insiders.

A number of research analysts have weighed in on the stock. BidaskClub lowered shares of Tristate Capital from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Zacks Investment Research lowered shares of Tristate Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Raymond James Financial assumed coverage on shares of Tristate Capital in a research note on Monday, December 11th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, ValuEngine lowered shares of Tristate Capital from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tristate Capital has a consensus rating of “Buy” and an average target price of $28.33.

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Tristate Capital Profile

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.

Institutional Ownership by Quarter for Tristate Capital (NASDAQ:TSC)

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