Analysts Set TriState Capital Holdings Inc. (TSC) PT at $16.88
TriState Capital Holdings Inc. (NASDAQ:TSC) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $16.88.
TSC has been the subject of several research reports. Zacks Investment Research downgraded shares of TriState Capital Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Boenning Scattergood assumed coverage on shares of TriState Capital Holdings in a report on Wednesday, October 5th. They set a “neutral” rating for the company. Finally, Maxim Group increased their target price on shares of TriState Capital Holdings from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, July 22nd.
TriState Capital Holdings (NASDAQ:TSC) opened at 18.85 on Wednesday. The company has a market cap of $534.27 million, a P/E ratio of 19.84 and a beta of 0.18. The company has a 50-day moving average of $16.76 and a 200 day moving average of $14.71. TriState Capital Holdings has a one year low of $10.77 and a one year high of $19.10.
TriState Capital Holdings (NASDAQ:TSC) last issued its earnings results on Wednesday, October 19th. The financial services provider reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.06. TriState Capital Holdings had a net margin of 19.61% and a return on equity of 7.97%. Equities research analysts predict that TriState Capital Holdings will post $0.97 EPS for the current year.
In other TriState Capital Holdings news, Chairman James F. Getz sold 75,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $15.25, for a total value of $1,143,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard A. Zappala sold 5,000 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $15.57, for a total transaction of $77,850.00. Following the completion of the sale, the director now owns 124,980 shares of the company’s stock, valued at approximately $1,945,938.60. The disclosure for this sale can be found here. Corporate insiders own 23.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TSC. Vanguard Group Inc. boosted its stake in shares of TriState Capital Holdings by 10.4% in the second quarter. Vanguard Group Inc. now owns 699,151 shares of the financial services provider’s stock worth $9,600,000 after buying an additional 65,675 shares in the last quarter. BlackRock Fund Advisors boosted its stake in TriState Capital Holdings by 8.9% in the third quarter. BlackRock Fund Advisors now owns 617,339 shares of the financial services provider’s stock worth $9,970,000 after buying an additional 50,275 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in TriState Capital Holdings during the second quarter worth about $603,000. Dimensional Fund Advisors LP boosted its stake in TriState Capital Holdings by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 479,208 shares of the financial services provider’s stock worth $6,579,000 after buying an additional 41,447 shares in the last quarter. Finally, Castine Capital Management LLC boosted its stake in TriState Capital Holdings by 9.9% in the second quarter. Castine Capital Management LLC now owns 450,000 shares of the financial services provider’s stock worth $6,179,000 after buying an additional 40,500 shares in the last quarter. Hedge funds and other institutional investors own 56.47% of the company’s stock.
About TriState Capital Holdings
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, Inc (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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