Wall Street analysts expect that Tristate Capital Holdings Inc (NASDAQ:TSC) will post sales of $37.95 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Tristate Capital’s earnings, with estimates ranging from $37.26 million to $38.88 million. Tristate Capital reported sales of $32.33 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.4%. The business is expected to issue its next earnings results on Thursday, April 19th.
According to Zacks, analysts expect that Tristate Capital will report full year sales of $37.95 million for the current financial year, with estimates ranging from $161.17 million to $167.30 million. For the next financial year, analysts expect that the company will report sales of $192.10 million per share, with estimates ranging from $187.38 million to $195.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Tristate Capital.
Tristate Capital (NASDAQ:TSC) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Tristate Capital had a return on equity of 9.56% and a net margin of 20.96%. The firm had revenue of $36.94 million for the quarter, compared to analyst estimates of $37.32 million.
Tristate Capital (NASDAQ TSC) traded down $0.05 during mid-day trading on Wednesday, reaching $24.05. The company had a trading volume of 119,127 shares, compared to its average volume of 111,038. Tristate Capital has a 12-month low of $20.30 and a 12-month high of $26.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $696.77, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.51 and a beta of 0.42.
Tristate Capital announced that its board has initiated a share repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
In other Tristate Capital news, Director James J. Dolan sold 65,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $24.93, for a total value of $1,620,450.00. Following the completion of the transaction, the director now directly owns 13,625 shares in the company, valued at approximately $339,671.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James F. Getz sold 5,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of the transaction, the chief executive officer now owns 760,289 shares of the company’s stock, valued at $17,608,293.24. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 5,250 shares of company stock valued at $121,710 and sold 75,000 shares valued at $1,851,050. Insiders own 23.40% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of TSC. IFP Advisors Inc acquired a new position in Tristate Capital in the 4th quarter valued at $230,000. Citadel Advisors LLC acquired a new position in Tristate Capital in the 3rd quarter valued at $255,000. MetLife Investment Advisors LLC acquired a new position in Tristate Capital in the 4th quarter valued at $263,000. Vident Investment Advisory LLC acquired a new position in Tristate Capital in the 3rd quarter valued at $267,000. Finally, Voya Investment Management LLC acquired a new position in Tristate Capital in the 2nd quarter valued at $271,000. Institutional investors own 58.80% of the company’s stock.
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About Tristate Capital
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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