Wall Street brokerages expect that Tristate Capital Holdings Inc (NASDAQ:TSC) will post $37.95 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Tristate Capital’s earnings. The highest sales estimate is $38.88 million and the lowest is $37.26 million. Tristate Capital reported sales of $32.33 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.4%. The firm is expected to report its next earnings results on Thursday, April 19th.
On average, analysts expect that Tristate Capital will report full-year sales of $37.95 million for the current year, with estimates ranging from $161.17 million to $167.30 million. For the next fiscal year, analysts anticipate that the company will report sales of $192.10 million per share, with estimates ranging from $187.38 million to $195.40 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Tristate Capital.
Tristate Capital (NASDAQ:TSC) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $36.94 million for the quarter, compared to the consensus estimate of $37.32 million. Tristate Capital had a return on equity of 9.56% and a net margin of 20.96%.
Several equities research analysts have issued reports on TSC shares. BidaskClub upgraded Tristate Capital from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $32.00 target price on shares of Tristate Capital in a research report on Tuesday, February 27th. Zacks Investment Research downgraded Tristate Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a research report on Friday, January 26th. Finally, Raymond James Financial started coverage on Tristate Capital in a research report on Monday, December 11th. They set an “outperform” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Tristate Capital has an average rating of “Hold” and an average price target of $29.00.
Tristate Capital (NASDAQ TSC) traded up $0.65 during trading hours on Wednesday, hitting $24.10. The company’s stock had a trading volume of 156,832 shares, compared to its average volume of 108,952. The stock has a market capitalization of $677.97, a P/E ratio of 18.26, a P/E/G ratio of 1.47 and a beta of 0.42. Tristate Capital has a 12-month low of $20.30 and a 12-month high of $26.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.
Tristate Capital announced that its board has initiated a stock repurchase program on Wednesday, January 24th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, CFO David J. Demas purchased 1,100 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were purchased at an average price of $23.60 per share, with a total value of $25,960.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James F. Getz sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $22.96, for a total transaction of $114,800.00. Following the completion of the transaction, the chairman now directly owns 760,289 shares in the company, valued at approximately $17,456,235.44. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 5,250 shares of company stock worth $121,710 and have sold 75,000 shares worth $1,851,050. Corporate insiders own 23.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new position in shares of Tristate Capital in the fourth quarter worth $230,000. Citadel Advisors LLC bought a new position in shares of Tristate Capital in the third quarter worth $255,000. MetLife Investment Advisors LLC bought a new position in shares of Tristate Capital in the fourth quarter worth $263,000. Vident Investment Advisory LLC bought a new position in shares of Tristate Capital in the third quarter worth $267,000. Finally, Voya Investment Management LLC bought a new position in shares of Tristate Capital in the second quarter worth $271,000. 58.80% of the stock is currently owned by hedge funds and other 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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