Tristate Capital (NASDAQ:TSC) Lifted to Hold at BidaskClub

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BidaskClub upgraded shares of Tristate Capital (NASDAQ:TSC) from a sell rating to a hold rating in a report issued on Thursday, BidAskClub reports.

A number of other research firms have also recently issued reports on TSC. Raymond James reduced their target price on shares of Tristate Capital from $28.00 to $24.00 and set an outperform rating for the company in a research note on Thursday, August 29th. Zacks Investment Research lowered shares of Tristate Capital from a buy rating to a hold rating in a research report on Tuesday, May 28th. ValuEngine raised shares of Tristate Capital from a hold rating to a buy rating in a research report on Wednesday. Stephens reaffirmed a buy rating and set a $25.00 target price on shares of Tristate Capital in a research report on Friday, June 14th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Tristate Capital in a research report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $25.50.

Shares of TSC stock traded up $0.56 during trading on Thursday, hitting $22.35. 5,688 shares of the company were exchanged, compared to its average volume of 83,502. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $622.29 million, a price-to-earnings ratio of 12.86, a P/E/G ratio of 0.96 and a beta of 1.08. The business’s 50-day simple moving average is $19.97 and its 200 day simple moving average is $21.16. Tristate Capital has a twelve month low of $18.20 and a twelve month high of $29.65.

Tristate Capital (NASDAQ:TSC) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $43.28 million during the quarter, compared to analysts’ expectations of $45.35 million. Tristate Capital had a net margin of 20.29% and a return on equity of 13.03%. On average, equities analysts forecast that Tristate Capital will post 1.84 earnings per share for the current fiscal year.

In other Tristate Capital news, Director David L. Bonvenuto purchased 4,500 shares of the stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $21.15 per share, with a total value of $95,175.00. Following the acquisition, the director now directly owns 18,421 shares of the company’s stock, valued at approximately $389,604.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman James F. Getz purchased 25,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was acquired at an average cost of $19.41 per share, for a total transaction of $485,250.00. The disclosure for this purchase can be found here. Insiders have purchased 61,662 shares of company stock worth $1,216,163 in the last ninety days. 17.50% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Aperio Group LLC bought a new stake in Tristate Capital in the 2nd quarter valued at $25,000. Tower Research Capital LLC TRC boosted its stake in shares of Tristate Capital by 2,613.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,384 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,333 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Tristate Capital in the 1st quarter valued at $41,000. Bessemer Group Inc. acquired a new stake in shares of Tristate Capital in the 2nd quarter valued at $97,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Tristate Capital by 56,633.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,106 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 5,097 shares in the last quarter. 71.06% of the stock is currently 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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