Insider Buying: Mark L. Sullivan Purchases 2,500 Shares of Tristate Capital Holdings Stock (TSC)
Tristate Capital Holdings (NYSE:TSC) CFO Mark L. Sullivan acquired 2,500 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of $9.87 per share, with a total value of $24,675.00. Following the completion of the acquisition, the chief financial officer now directly owns 100,045 shares of the company’s stock, valued at approximately $987,444. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Tristate Capital Holdings from a “neutral” rating to an “underperform” rating in a research note on Monday, July 28th. They now have a $9.70 price target on the stock. Separately, analysts at Macquarie upgraded shares of Tristate Capital Holdings from a “neutral” rating to an “outperform” rating in a research note on Friday, July 25th. Finally, analysts at Stephens downgraded shares of Tristate Capital Holdings from an “overweight” rating to an “equal weight” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $12.07.
Shares of Tristate Capital Holdings (NYSE:TSC) opened at 9.66 on Friday. Tristate Capital Holdings has a 52-week low of $9.16 and a 52-week high of $14.91. The stock’s 50-day moving average is $13.12 and its 200-day moving average is $13.53. The company has a market cap of $277.4 million and a P/E ratio of 27.04.
Tristate Capital Holdings (NYSE:TSC) last announced its earnings results on Thursday, July 24th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.15. Analysts expect that Tristate Capital Holdings will post $0.51 EPS for the current fiscal year.
TriState Capital Holdings, Inc is a bank holding company. Its wholly owned bank subsidiary is TriState Capital Bank (NYSE:TSC), a commercial bank.
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