Tristate Capital (NASDAQ:TSC) Lifted to Buy at ValuEngine

Tristate Capital (NASDAQ:TSC) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday, ValuEngine reports.

A number of other equities analysts have also weighed in on the stock. Stephens reiterated a “buy” rating and issued a $25.00 price target on shares of Tristate Capital in a report on Friday, June 14th. Raymond James lowered their price objective on shares of Tristate Capital from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a report on Thursday, July 18th. BidaskClub lowered Tristate Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Finally, Zacks Investment Research cut Tristate Capital from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.50.

Shares of TSC stock traded up $0.48 during trading hours on Wednesday, hitting $21.70. 115,157 shares of the company were exchanged, compared to its average volume of 81,124. The firm has a market cap of $607.92 million, a PE ratio of 12.54, a PEG ratio of 0.94 and a beta of 1.08. Tristate Capital has a 1 year low of $18.20 and a 1 year high of $29.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average of $19.97 and a 200 day moving average of $21.16.

Tristate Capital (NASDAQ:TSC) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Tristate Capital had a net margin of 20.29% and a return on equity of 13.03%. The business had revenue of $43.28 million for the quarter, compared to analysts’ expectations of $45.35 million. Analysts expect that Tristate Capital will post 1.84 earnings per share for the current year.

In other Tristate Capital news, Director James J. Dolan purchased 5,000 shares of Tristate Capital stock in a transaction on Friday, July 19th. The shares were purchased at an average cost of $19.77 per share, with a total value of $98,850.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $79,080. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David J. Demas purchased 1,000 shares of Tristate Capital stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $26.40 per share, for a total transaction of $26,400.00. Following the completion of the transaction, the chief financial officer now owns 45,462 shares of the company’s stock, valued at $1,200,196.80. The disclosure for this purchase can be found here. Insiders have bought a total of 62,662 shares of company stock valued at $1,242,563 in the last quarter. Company insiders own 17.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC purchased a new position in shares of Tristate Capital in the 2nd quarter valued at $25,000. Tower Research Capital LLC TRC grew its stake in shares of Tristate Capital by 2,613.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,384 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,333 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Tristate Capital during the 1st quarter valued at about $41,000. Bessemer Group Inc. purchased a new stake in shares of Tristate Capital during the 2nd quarter valued at about $97,000. Finally, BNP Paribas Arbitrage SA lifted its position in Tristate Capital by 56,633.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,106 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 5,097 shares in the last quarter. Institutional investors own 71.06% of the company’s stock.

Tristate Capital Company Profile

TriState Capital Holdings, Inc operates as the bank holding company for TriState Capital Bank that provides various commercial and private banking services to middle-market businesses and high-net-worth individuals in the United States. It operates in two segments, Bank and Investment Management. The company's deposit products include checking accounts, money market deposit accounts, and certificates of deposit, as well as promontory's certificate of deposit account registry services and insured cash sweep services.

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