TriState Capital Holdings, Inc. (TSC) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS
TriState Capital Holdings, Inc. (NASDAQ:TSC) issued its quarterly earnings results on Thursday. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05, Bloomberg Earnings reports. TriState Capital Holdings had a return on equity of 9.32% and a net margin of 19.58%. The business had revenue of $35.31 million for the quarter, compared to analyst estimates of $36.41 million.
Shares of TriState Capital Holdings (NASDAQ TSC) opened at 22.95 on Friday. TriState Capital Holdings has a one year low of $16.75 and a one year high of $26.30. The firm has a 50 day moving average price of $22.18 and a 200 day moving average price of $23.31. The company has a market capitalization of $657.86 million, a P/E ratio of 20.69 and a beta of 0.32.
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A number of equities research analysts recently commented on TSC shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $28.00 price objective on shares of TriState Capital Holdings in a report on Tuesday, August 22nd. ValuEngine upgraded TriState Capital Holdings from a “hold” rating to a “buy” rating in a report on Thursday, July 20th. Stephens reiterated a “buy” rating and issued a $30.00 price objective on shares of TriState Capital Holdings in a report on Thursday, July 20th. BidaskClub downgraded TriState Capital Holdings from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Zacks Investment Research downgraded TriState Capital Holdings from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $28.75.
In other TriState Capital Holdings news, insider Brian S. Fetterolf acquired 3,250 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $21.83 per share, with a total value of $70,947.50. Following the purchase, the insider now directly owns 85,090 shares of the company’s stock, valued at $1,857,514.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian S. Fetterolf acquired 1,560 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $21.54 per share, for a total transaction of $33,602.40. Following the completion of the purchase, the insider now directly owns 85,090 shares in the company, valued at $1,832,838.60. The disclosure for this purchase can be found here. 23.40% of the stock is currently owned by insiders.
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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