Brown Advisory Inc. Has $10.55 Million Holdings in TriState Capital Holdings, Inc. (TSC)
Brown Advisory Inc. grew its position in shares of TriState Capital Holdings, Inc. (NASDAQ:TSC) by 48.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 460,691 shares of the financial services provider’s stock after acquiring an additional 150,954 shares during the quarter. Brown Advisory Inc. owned 1.61% of TriState Capital worth $10,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of TriState Capital by 1.3% during the 1st quarter. Bank of America Corp DE now owns 5,140 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 67 shares during the period. 1st Global Advisors Inc. bought a new stake in shares of TriState Capital during the 2nd quarter worth $235,000. Alliancebernstein L.P. bought a new stake in shares of TriState Capital during the 1st quarter worth $219,000. Stratos Wealth Partners LTD. bought a new stake in shares of TriState Capital during the 2nd quarter worth $255,000. Finally, Voya Investment Management LLC bought a new stake in shares of TriState Capital during the 2nd quarter worth $271,000. 59.77% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director James J. Dolan sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $24.32, for a total transaction of $291,840.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 23.40% of the company’s stock.
TriState Capital (NASDAQ:TSC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. TriState Capital had a return on equity of 9.21% and a net margin of 19.58%. The firm had revenue of $35.31 million for the quarter, compared to analysts’ expectations of $36.41 million. sell-side analysts predict that TriState Capital Holdings, Inc. will post 1.23 EPS for the current year.
A number of brokerages recently issued reports on TSC. BidaskClub cut TriState Capital from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut TriState Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $28.00 price objective on shares of TriState Capital in a research note on Tuesday, August 22nd. Finally, ValuEngine cut TriState Capital from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $28.75.
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TriState Capital 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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