Tristate Capital Holdings Inc (NASDAQ:TSC) – Equities researchers at DA Davidson cut their FY2019 earnings per share estimates for shares of Tristate Capital in a report issued on Wednesday, May 22nd. DA Davidson analyst R. Gunther now expects that the financial services provider will earn $1.82 per share for the year, down from their prior estimate of $1.90. DA Davidson also issued estimates for Tristate Capital’s Q1 2020 earnings at $0.48 EPS, Q2 2020 earnings at $0.50 EPS, Q3 2020 earnings at $0.55 EPS, Q4 2020 earnings at $0.57 EPS and FY2020 earnings at $2.10 EPS.
Several other research firms have also issued reports on TSC. Boenning Scattergood reissued a “hold” rating on shares of Tristate Capital in a report on Thursday, April 18th. Zacks Investment Research raised Tristate Capital from a “sell” rating to a “buy” rating and set a $25.00 price target for the company in a report on Thursday, April 25th. BidaskClub raised Tristate Capital from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Maxim Group reissued a “buy” rating and set a $28.00 price target on shares of Tristate Capital in a report on Sunday, April 21st. Finally, Stephens set a $25.00 price target on Tristate Capital and gave the company a “buy” rating in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.25.
NASDAQ:TSC opened at $21.84 on Monday. Tristate Capital has a 52-week low of $18.20 and a 52-week high of $30.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $641.09 million, a price-to-earnings ratio of 12.62, a P/E/G ratio of 0.93 and a beta of 1.12.
Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Tristate Capital had a return on equity of 12.91% and a net margin of 21.60%. The company had revenue of $43.82 million during the quarter, compared to analyst estimates of $43.30 million.
In related news, Director Helen Hanna Casey purchased 20,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was acquired at an average price of $25.00 per share, with a total value of $500,000.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $500,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSC. Bank of New York Mellon Corp boosted its stake in shares of Tristate Capital by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 348,591 shares of the financial services provider’s stock worth $9,620,000 after acquiring an additional 7,220 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Tristate Capital by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 118,148 shares of the financial services provider’s stock worth $3,260,000 after acquiring an additional 4,716 shares during the period. Teachers Advisors LLC boosted its stake in shares of Tristate Capital by 4.9% in the third quarter. Teachers Advisors LLC now owns 60,674 shares of the financial services provider’s stock worth $1,675,000 after acquiring an additional 2,842 shares during the period. Morgan Stanley boosted its stake in shares of Tristate Capital by 138.4% in the third quarter. Morgan Stanley now owns 218,619 shares of the financial services provider’s stock worth $6,034,000 after acquiring an additional 126,910 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Tristate Capital by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,153,991 shares of the financial services provider’s stock worth $31,850,000 after acquiring an additional 17,290 shares during the period. 71.94% of the stock is owned by hedge funds and other institutional investors.
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. It operates in two segments, Bank and Investment Management. The company's deposit products include checking accounts, money market deposit accounts, and certificates of deposit, as well as promontory's certificate of deposit account registry services and insured cash sweep services.
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