Tristate Capital Holdings Inc (TSC) Rating Reiterated by Keefe, Bruyette & Woods
Tristate Capital Holdings Inc (NASDAQ:TSC)‘s stock had its “buy” rating reissued by Keefe, Bruyette & Woods in a research report issued to clients and investors on Tuesday. They currently have a $28.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 33.02% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Tristate Capital Holdings from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, April 25th. ValuEngine upgraded shares of Tristate Capital Holdings from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Stephens reiterated a “buy” rating and set a $30.00 price target on shares of Tristate Capital Holdings in a research report on Thursday, July 20th. Finally, BidaskClub cut shares of Tristate Capital Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $28.40.
Tristate Capital Holdings (TSC) opened at 21.05 on Tuesday. The firm has a 50-day moving average of $23.20 and a 200-day moving average of $23.73. The firm has a market capitalization of $603.40 million, a price-to-earnings ratio of 18.98 and a beta of 0.28. Tristate Capital Holdings has a 52-week low of $14.11 and a 52-week high of $26.30.
Tristate Capital Holdings (NASDAQ:TSC) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Tristate Capital Holdings had a net margin of 24.95% and a return on equity of 9.29%. The business had revenue of $33.75 million for the quarter, compared to analysts’ expectations of $35.27 million. On average, equities research analysts forecast that Tristate Capital Holdings will post $1.19 EPS for the current fiscal year.
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In other news, CEO James F. Getz sold 15,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $25.00, for a total transaction of $375,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James F. Getz sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $25.06, for a total value of $501,200.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 14,810 shares of company stock valued at $341,150. Insiders own 23.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TSC. Bank of America Corp DE raised its stake in Tristate Capital Holdings by 1.3% in the first quarter. Bank of America Corp DE now owns 5,140 shares of the financial services provider’s stock worth $120,000 after buying an additional 67 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Tristate Capital Holdings during the first quarter worth approximately $207,000. 1st Global Advisors Inc. acquired a new stake in shares of Tristate Capital Holdings during the second quarter worth approximately $235,000. Alliancebernstein L.P. acquired a new stake in shares of Tristate Capital Holdings during the first quarter worth approximately $219,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Tristate Capital Holdings during the first quarter worth approximately $234,000. 57.35% of the stock is owned by hedge funds and other institutional investors.
Tristate Capital Holdings Company Profile
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, LLC (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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