Tristate Capital (TSC) Downgraded by ValuEngine to Sell

ValuEngine cut shares of Tristate Capital (NASDAQ:TSC) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

A number of other brokerages have also issued reports on TSC. BidaskClub lowered Tristate Capital from a hold rating to a sell rating in a research report on Wednesday, October 24th. Stephens reaffirmed a buy rating and issued a $32.00 target price on shares of Tristate Capital in a research report on Thursday, October 18th. Boenning Scattergood reaffirmed a hold rating on shares of Tristate Capital in a research report on Thursday, October 18th. Zacks Investment Research lowered Tristate Capital from a buy rating to a hold rating in a research report on Tuesday, October 23rd. Finally, Maxim Group reaffirmed a buy rating and issued a $31.00 target price on shares of Tristate Capital in a research report on Thursday, October 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $31.60.

Shares of TSC opened at $22.81 on Wednesday. Tristate Capital has a 52-week low of $22.05 and a 52-week high of $30.10. The company has a market capitalization of $670.47 million, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.13 and a beta of 0.65. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61.

Tristate Capital (NASDAQ:TSC) last announced its earnings results on Wednesday, October 17th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.01. Tristate Capital had a return on equity of 11.43% and a net margin of 22.52%. The company had revenue of $41.57 million for the quarter, compared to analyst estimates of $43.64 million. Sell-side analysts expect that Tristate Capital will post 1.71 earnings per share for the current fiscal year.

In other news, CEO Brian S. Fetterolf purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were acquired at an average cost of $23.62 per share, with a total value of $59,050.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard B. Seidel sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $25.21, for a total value of $151,260.00. Following the sale, the director now directly owns 35,905 shares in the company, valued at $905,165.05. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 15,800 shares of company stock worth $383,831. Corporate insiders own 23.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. grew its stake in Tristate Capital by 12.1% during the 3rd quarter. Alliancebernstein L.P. now owns 19,400 shares of the financial services provider’s stock worth $535,000 after buying an additional 2,100 shares during the last quarter. Teachers Advisors LLC grew its stake in Tristate Capital by 4.9% during the 3rd quarter. Teachers Advisors LLC now owns 60,674 shares of the financial services provider’s stock worth $1,675,000 after buying an additional 2,842 shares during the last quarter. Quantum Capital Management grew its stake in Tristate Capital by 3.8% during the 2nd quarter. Quantum Capital Management now owns 95,492 shares of the financial services provider’s stock worth $2,492,000 after buying an additional 3,497 shares during the last quarter. Credit Suisse AG grew its stake in Tristate Capital by 20.1% during the 3rd quarter. Credit Suisse AG now owns 21,529 shares of the financial services provider’s stock worth $594,000 after buying an additional 3,607 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware bought a new position in Tristate Capital during the 3rd quarter worth $101,000. 72.50% of the stock is currently owned by institutional investors and hedge funds.

Tristate Capital Company Profile

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. The company operates in two segments, Bank and Investment Management.

See Also: Diversification

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tristate Capital (NASDAQ:TSC)

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