Tristate Capital (NASDAQ:TSC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday. The brokerage presently has a $27.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.03% from the stock’s previous close.
According to Zacks, “Tristate Capital Holdings, Inc. is a bank holding company for TriState Capital Bank. The company provides commercial and private banking services to middle market businesses, professionals and high net worth individuals. It offers deposit products, commercial and industrial loans as well as cash management services which consist of online balance reporting, online bill payment, remote deposit, liquidity services, wire and ACH services, foreign exchange, controlled disbursement services and capital market services. Tristate Capital Holdings, Inc. is headquartered in Pittsburgh, Pennsylvania. “
Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Tristate Capital from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub raised shares of Tristate Capital from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Finally, Raymond James Financial started coverage on shares of Tristate Capital in a research note on Monday, December 11th. They set an “outperform” rating and a $28.00 price target for the company. Two equities 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 stock. Tristate Capital currently has an average rating of “Buy” and an average price target of $28.33.
Shares of Tristate Capital (NASDAQ TSC) opened at $24.10 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.06 and a current ratio of 1.06. Tristate Capital has a 12 month low of $19.65 and a 12 month high of $26.30. The firm has a market cap of $689.02, a P/E ratio of 20.60, a PEG ratio of 1.48 and a beta of 0.33.
Tristate Capital (NASDAQ:TSC) last posted its quarterly 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. sell-side analysts expect that Tristate Capital will post 1.22 EPS 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 transaction of $291,840.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 23.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of TSC. Bank of New York Mellon Corp increased its holdings in Tristate Capital by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 244,672 shares of the financial services provider’s stock valued at $6,165,000 after buying an additional 4,916 shares during the period. Prudential Financial Inc. increased its holdings in Tristate Capital by 47.8% during the second quarter. Prudential Financial Inc. now owns 112,970 shares of the financial services provider’s stock valued at $2,847,000 after buying an additional 36,550 shares during the period. Principal Financial Group Inc. purchased a new position in Tristate Capital during the second quarter valued at approximately $278,000. Private Advisor Group LLC increased its holdings in Tristate Capital by 1.5% during the second quarter. Private Advisor Group LLC now owns 15,239 shares of the financial services provider’s stock valued at $384,000 after buying an additional 232 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Tristate Capital by 11.9% during the second quarter. Wells Fargo & Company MN now owns 16,926 shares of the financial services provider’s stock valued at $426,000 after buying an additional 1,805 shares during the period. 59.70% of the stock is currently owned by institutional investors.
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Tristate Capital Company 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.
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