Tristate Capital (TSC) Raised to “Sell” at BidaskClub

Tristate Capital (NASDAQ:TSC) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday.

A number of other equities analysts have also commented on the stock. Zacks Investment Research upgraded shares of Tristate Capital from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Maxim Group reissued a “buy” rating and set a $28.00 target price on shares of Tristate Capital in a research report on Friday, February 1st. Stephens reiterated a “buy” rating and issued a $25.00 target price on shares of Tristate Capital in a research note on Wednesday, December 19th. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a research note on Thursday, October 18th. Finally, ValuEngine lowered shares of Tristate Capital from a “hold” rating to a “sell” rating in a report on Wednesday, December 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $30.00.

TSC stock opened at $21.55 on Tuesday. Tristate Capital has a 1 year low of $18.20 and a 1 year high of $30.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $622.85 million, a price-to-earnings ratio of 12.46, a PEG ratio of 0.93 and a beta of 1.05.

Tristate Capital (NASDAQ:TSC) last released its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Tristate Capital had a net margin of 21.97% and a return on equity of 12.54%. The firm had revenue of $41.11 million for the quarter, compared to analysts’ expectations of $43.54 million. As a group, sell-side analysts forecast that Tristate Capital will post 1.92 earnings per share for the current year.

In other Tristate Capital news, Director Richard B. Seidel acquired 2,500 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was bought at an average cost of $20.70 per share, with a total value of $51,750.00. Following the completion of the purchase, the director now directly owns 41,405 shares in the company, valued at $857,083.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard B. Seidel sold 6,000 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $25.21, for a total transaction of $151,260.00. Following the sale, the director now directly owns 35,905 shares of the company’s stock, valued at $905,165.05. The disclosure for this sale can be found here. 23.70% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the stock. LPL Financial LLC grew its stake in shares of Tristate Capital by 3.5% during the 4th quarter. LPL Financial LLC now owns 15,254 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 515 shares during the period. Shaker Investments LLC OH increased its position in shares of Tristate Capital by 7.0% during the 4th quarter. Shaker Investments LLC OH now owns 10,690 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 700 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of Tristate Capital by 2,571.1% during the 3rd quarter. Federated Investors Inc. PA now owns 1,015 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 977 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Tristate Capital by 4.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 25,000 shares of the financial services provider’s stock valued at $487,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Tristate Capital by 12.1% in the 3rd quarter. Alliancebernstein L.P. now owns 19,400 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors own 70.19% of the company’s stock.

About Tristate Capital

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.

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