Tristate Capital Holdings Inc (NASDAQ:TSC) insider Brian S. Fetterolf bought 1,050 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average cost of $22.90 per share, with a total value of $24,045.00. Following the completion of the purchase, the insider now directly owns 123,549 shares in the company, valued at $2,829,272.10. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Tristate Capital Holdings Inc (NASDAQ:TSC) traded down $0.45 during midday trading on Wednesday, reaching $23.90. The company’s stock had a trading volume of 195,393 shares, compared to its average volume of 113,702. The stock has a market cap of $695.32, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.42. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.07 and a quick ratio of 1.07. Tristate Capital Holdings Inc has a 12 month low of $20.30 and a 12 month high of $26.30.
Tristate Capital (NASDAQ:TSC) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $36.94 million during the quarter, compared to the consensus estimate of $37.32 million. Tristate Capital had a return on equity of 9.56% and a net margin of 20.96%. equities analysts anticipate that Tristate Capital Holdings Inc will post 1.59 earnings per share for the current year.
Tristate Capital announced that its Board of Directors has initiated a share buyback program on Wednesday, January 24th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc purchased a new stake in shares of Tristate Capital in the 4th quarter valued at about $230,000. Citadel Advisors LLC purchased a new stake in shares of Tristate Capital in the 3rd quarter valued at about $255,000. MetLife Investment Advisors LLC purchased a new stake in shares of Tristate Capital in the 4th quarter valued at about $263,000. Vident Investment Advisory LLC purchased a new stake in shares of Tristate Capital in the 3rd quarter valued at about $267,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Tristate Capital in the 2nd quarter valued at about $271,000. 58.80% of the stock is owned by institutional investors.
TSC has been the subject of several analyst reports. BidaskClub raised Tristate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $32.00 target price on shares of Tristate Capital in a research note on Tuesday, February 27th. Zacks Investment Research cut Tristate Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Boenning Scattergood reissued a “hold” rating on shares of Tristate Capital in a research note on Friday, January 26th. Finally, Raymond James Financial initiated coverage on Tristate Capital in a research note on Monday, December 11th. They set an “outperform” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $29.00.
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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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