Tristate Capital Holdings Inc (NASDAQ:TSC) – Boenning Scattergood decreased their FY2020 earnings per share estimates for Tristate Capital in a report released on Thursday, October 17th. Boenning Scattergood analyst S. Beury now forecasts that the financial services provider will post earnings per share of $1.95 for the year, down from their previous estimate of $2.14. Boenning Scattergood has a “Hold” rating on the stock.
Tristate Capital (NASDAQ:TSC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.07. Tristate Capital had a return on equity of 13.28% and a net margin of 19.84%. The firm had revenue of $46.56 million for the quarter, compared to the consensus estimate of $45.39 million.
Other equities analysts have also recently issued reports about the company. B. Riley set a $27.00 target price on Tristate Capital and gave the stock a “buy” rating in a report on Friday. Raymond James decreased their target price on Tristate Capital from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Zacks Investment Research raised Tristate Capital from a “sell” rating to a “hold” rating in a report on Saturday. ValuEngine cut Tristate Capital from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, BidaskClub raised Tristate Capital from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Tristate Capital presently has a consensus rating of “Buy” and an average target price of $25.80.
Shares of Tristate Capital stock opened at $22.71 on Monday. Tristate Capital has a one year low of $18.20 and a one year high of $26.63. The stock’s fifty day moving average is $21.09 and its 200 day moving average is $21.22. The stock has a market cap of $659.54 million, a P/E ratio of 13.13 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.04.
A number of large investors have recently bought and sold shares of the business. Aperio Group LLC bought a new stake in shares of Tristate Capital in the second quarter worth about $25,000. Tower Research Capital LLC TRC grew its position in 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 worth $30,000 after acquiring an additional 1,333 shares in the last quarter. Bessemer Group Inc. purchased a new position in Tristate Capital in the second quarter worth about $97,000. Pacific Ridge Capital Partners LLC purchased a new position in Tristate Capital in the second quarter worth about $260,000. Finally, Carroll Financial Associates Inc. grew its position in Tristate Capital by 59.0% in the third quarter. Carroll Financial Associates Inc. now owns 18,050 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 6,700 shares in the last quarter. 71.06% of the stock is currently owned by institutional investors and hedge funds.
In other Tristate Capital news, Director David L. Bonvenuto purchased 4,500 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were acquired at an average cost of $21.15 per share, with a total value of $95,175.00. Following the completion of the acquisition, the director now directly owns 18,421 shares in the company, valued at $389,604.15. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman James F. Getz purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were acquired at an average cost of $19.41 per share, for a total transaction of $485,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 56,662 shares of company stock worth $1,117,313. 17.50% of the stock is owned by insiders.
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. 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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