Cubist Systematic Strategies LLC Takes $230,000 Position in Tristate Capital Holdings Inc (TSC)

Cubist Systematic Strategies LLC bought a new position in Tristate Capital Holdings Inc (NASDAQ:TSC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,800 shares of the financial services provider’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN grew its stake in Tristate Capital by 14.6% during the first quarter. Wells Fargo & Company MN now owns 36,823 shares of the financial services provider’s stock valued at $856,000 after acquiring an additional 4,700 shares in the last quarter. Swiss National Bank grew its stake in Tristate Capital by 7.3% during the first quarter. Swiss National Bank now owns 39,938 shares of the financial services provider’s stock valued at $929,000 after acquiring an additional 2,700 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Tristate Capital by 13.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 110,669 shares of the financial services provider’s stock valued at $2,574,000 after acquiring an additional 12,984 shares in the last quarter. BlackRock Inc. grew its stake in Tristate Capital by 41.9% during the first quarter. BlackRock Inc. now owns 1,847,540 shares of the financial services provider’s stock valued at $42,954,000 after acquiring an additional 545,224 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Tristate Capital by 14.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,069,693 shares of the financial services provider’s stock valued at $24,870,000 after acquiring an additional 138,565 shares in the last quarter. Hedge funds and other institutional investors own 66.02% of the company’s stock.

TSC stock opened at $28.21 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. Tristate Capital Holdings Inc has a one year low of $21.90 and a one year high of $30.10. The company has a market capitalization of $799.00 million, a price-to-earnings ratio of 22.75, a P/E/G ratio of 1.34 and a beta of 0.49.

Tristate Capital (NASDAQ:TSC) last released its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. Tristate Capital had a net margin of 22.41% and a return on equity of 10.73%. The business had revenue of $41.29 million during the quarter, compared to analysts’ expectations of $40.72 million. As a group, equities research analysts forecast that Tristate Capital Holdings Inc will post 1.72 earnings per share for the current fiscal year.

In other Tristate Capital news, Chairman James F. Getz sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $29.86, for a total value of $298,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.70% of the stock is owned by insiders.

Several equities analysts recently commented on the stock. Stephens reaffirmed a “buy” rating and set a $28.00 price objective on shares of Tristate Capital in a research note on Thursday, July 19th. BidaskClub raised shares of Tristate Capital from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. ValuEngine raised shares of Tristate Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Maxim Group boosted their price objective on shares of Tristate Capital from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, Zacks Investment Research cut shares of Tristate Capital from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $30.80.

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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Institutional Ownership by Quarter for Tristate Capital (NASDAQ:TSC)

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