Hodges Capital Management Inc. lessened its holdings in shares of Tristate Capital Holdings Inc (NASDAQ:TSC) by 37.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 111,920 shares of the financial services provider’s stock after selling 67,500 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.39% of Tristate Capital worth $2,574,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Tristate Capital by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 951,859 shares of the financial services provider’s stock worth $23,987,000 after buying an additional 69,071 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Tristate Capital by 13.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 872,391 shares of the financial services provider’s stock worth $19,978,000 after buying an additional 104,343 shares during the last quarter. Northpointe Capital LLC increased its holdings in shares of Tristate Capital by 58.3% during the 3rd quarter. Northpointe Capital LLC now owns 802,392 shares of the financial services provider’s stock worth $18,375,000 after buying an additional 295,461 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Tristate Capital by 48.7% during the 3rd quarter. Brown Advisory Inc. now owns 460,691 shares of the financial services provider’s stock worth $10,550,000 after buying an additional 150,954 shares during the last quarter. Finally, State Street Corp increased its holdings in Tristate Capital by 10.6% in the 2nd quarter. State Street Corp now owns 409,593 shares of the financial services provider’s stock valued at $10,323,000 after purchasing an additional 39,409 shares in the last quarter. 59.01% of the stock is currently owned by institutional investors.
In other Tristate Capital news, Director James J. Dolan sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $24.93, for a total value of $1,620,450.00. Following the sale, the director now owns 13,625 shares in the company, valued at $339,671.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James J. Dolan sold 12,000 shares of the firm’s 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 disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,200 shares of company stock worth $74,865 and have sold 87,000 shares worth $2,142,890. Company insiders own 23.40% of the company’s stock.
Several analysts recently issued reports on the company. BidaskClub downgraded Tristate Capital from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Boenning Scattergood reiterated a “hold” rating on shares of Tristate Capital in a report on Friday, January 26th. Zacks Investment Research upgraded Tristate Capital from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a report on Friday, January 12th. Finally, Raymond James Financial assumed coverage on Tristate Capital in a research note on Monday, December 11th. They set an “outperform” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.33.
Tristate Capital Holdings Inc (TSC) opened at $23.00 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 Holdings Inc has a 12-month low of $20.30 and a 12-month high of $26.30. The company has a market cap of $663.29, a PE ratio of 16.31, a PEG ratio of 1.43 and a beta of 0.35.
Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Tristate Capital had a net margin of 20.96% and a return on equity of 9.69%. The business had revenue of $36.94 million for the quarter, compared to analysts’ expectations of $37.32 million. research analysts forecast that Tristate Capital Holdings Inc will post 1.59 EPS for the current fiscal year.
Tristate Capital announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 24th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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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