Shares of TriState Capital Holdings (NASDAQ:TSC) reached a new 52-week high and low during trading on Friday . The company traded as low as $26.75 and last traded at $26.57, with a volume of 1401 shares changing hands. The stock had previously closed at $26.50.
A number of analysts have commented on TSC shares. Zacks Investment Research lowered shares of TriState Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $32.00 price objective on shares of TriState Capital in a research note on Tuesday, February 27th. BidaskClub raised shares of TriState Capital from a “sell” rating to a “hold” rating in a research note on Friday, April 13th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of TriState Capital in a research note on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $29.25.
The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $762.26 million, a PE ratio of 21.29, a P/E/G ratio of 1.42 and a beta of 0.38.
TriState Capital (NASDAQ:TSC) last posted its quarterly earnings results on Wednesday, April 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $37.35 million during the quarter, compared to analyst estimates of $37.99 million. TriState Capital had a net margin of 21.12% and a return on equity of 10.05%. sell-side analysts anticipate that TriState Capital Holdings will post 1.54 EPS for the current fiscal year.
TriState Capital announced that its board has initiated a share repurchase program on Wednesday, January 24th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, CFO David J. Demas purchased 2,000 shares of TriState Capital stock in a transaction dated Thursday, March 15th. The stock was acquired at an average cost of $25.00 per share, with a total value of $50,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at $50,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James F. Getz sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $22.96, for a total transaction of $114,800.00. Following the completion of the sale, the chairman now directly owns 760,289 shares of the company’s stock, valued at $17,456,235.44. The disclosure for this sale can be found here. Insiders bought 9,050 shares of company stock valued at $221,845 over the last three months. 23.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc lifted its position in shares of TriState Capital by 20.0% in the first quarter. IFP Advisors Inc now owns 12,000 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 2,000 shares in the last quarter. Deutsche Bank AG lifted its position in shares of TriState Capital by 0.6% in the fourth quarter. Deutsche Bank AG now owns 393,679 shares of the financial services provider’s stock worth $9,051,000 after purchasing an additional 2,470 shares in the last quarter. Swiss National Bank lifted its position in shares of TriState Capital by 7.3% in the first quarter. Swiss National Bank now owns 39,938 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 2,700 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of TriState Capital by 38.2% in the fourth quarter. Citadel Advisors LLC now owns 15,422 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 4,265 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of TriState Capital by 14.6% in the first quarter. Wells Fargo & Company MN now owns 36,823 shares of the financial services provider’s stock worth $856,000 after purchasing an additional 4,700 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.
About TriState Capital
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. The company operates in two segments, Bank and Investment Management.
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