TriState Capital Holdings Inc. (TSC) Stock Rating Lowered by Zacks Investment Research
TriState Capital Holdings Inc. (NASDAQ:TSC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Tristate Capital Holdings, Inc. is a bank holding company for TriState Capital Bank. The company provides commercial and private banking services to middle market businesses, professionals and high net worth individuals. It offers deposit products, commercial and industrial loans as well as cash management services which consist of online balance reporting, online bill payment, remote deposit, liquidity services, wire and ACH services, foreign exchange, controlled disbursement services and capital market services. Tristate Capital Holdings, Inc. is headquartered in Pittsburgh, Pennsylvania. “
Separately, Maxim Group increased their price objective on TriState Capital Holdings from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. TriState Capital Holdings currently has a consensus rating of “Buy” and a consensus price target of $16.13.
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TriState Capital Holdings (NASDAQ:TSC) opened at 15.62 on Thursday. The company’s 50-day moving average price is $14.93 and its 200 day moving average price is $13.63. The firm has a market capitalization of $440.72 million, a price-to-earnings ratio of 17.95 and a beta of 0.26. TriState Capital Holdings has a 52-week low of $10.77 and a 52-week high of $15.98.
TriState Capital Holdings (NASDAQ:TSC) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. TriState Capital Holdings had a return on equity of 7.40% and a net margin of 19.08%. Equities analysts predict that TriState Capital Holdings will post $0.94 earnings per share for the current fiscal year.
In other news, Chairman James F. Getz sold 75,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $15.25, for a total value of $1,143,750.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard A. Zappala sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $15.57, for a total value of $77,850.00. Following the completion of the transaction, the director now owns 124,980 shares in the company, valued at $1,945,938.60. The disclosure for this sale can be found here. 23.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. raised its position in TriState Capital Holdings by 4.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,535 shares of the financial services provider’s stock valued at $133,000 after buying an additional 475 shares in the last quarter. Goldman Sachs Group Inc. raised its position in TriState Capital Holdings by 15.9% in the first quarter. Goldman Sachs Group Inc. now owns 11,728 shares of the financial services provider’s stock valued at $148,000 after buying an additional 1,609 shares in the last quarter. Bank of Montreal Can bought a new position in TriState Capital Holdings during the second quarter valued at about $150,000. American International Group Inc. raised its position in TriState Capital Holdings by 1.3% in the second quarter. American International Group Inc. now owns 12,626 shares of the financial services provider’s stock valued at $173,000 after buying an additional 167 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in TriState Capital Holdings by 2.6% in the second quarter. Parametric Portfolio Associates LLC now owns 14,100 shares of the financial services provider’s stock valued at $194,000 after buying an additional 363 shares in the last quarter. Institutional investors and hedge funds own 56.86% of the company’s stock.
TriState Capital Holdings 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, Inc (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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