TriState Capital Holdings, Inc. (NASDAQ:TSC) Upgraded at ValuEngine
TriState Capital Holdings, Inc. (NASDAQ:TSC) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of TriState Capital Holdings from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Tuesday, April 25th. Maxim Group raised their target price on shares of TriState Capital Holdings from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, April 21st. Stephens restated a “buy” rating and set a $30.00 target price on shares of TriState Capital Holdings in a research note on Thursday. Finally, BidaskClub cut shares of TriState Capital Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. TriState Capital Holdings presently has an average rating of “Buy” and an average target price of $28.50.
Shares of TriState Capital Holdings (NASDAQ:TSC) traded down 3.04% during trading on Thursday, reaching $23.90. 358,253 shares of the company traded hands. The company’s 50-day moving average price is $24.56 and its 200-day moving average price is $23.67. TriState Capital Holdings has a 52 week low of $13.92 and a 52 week high of $26.30. The company has a market capitalization of $686.67 million, a P/E ratio of 22.55 and a beta of 0.31.
TriState Capital Holdings (NASDAQ:TSC) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. TriState Capital Holdings had a net margin of 19.84% and a return on equity of 8.70%. The company had revenue of $33.75 million for the quarter, compared to analysts’ expectations of $35.27 million. Equities research analysts forecast that TriState Capital Holdings will post $1.21 EPS for the current fiscal year.
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In related news, Director Kim Ruth acquired 5,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was acquired at an average cost of $24.73 per share, with a total value of $123,650.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $74,190. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman James F. Getz sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $25.06, for a total transaction of $501,200.00. The disclosure for this sale can be found here. Company insiders own 23.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in shares of TriState Capital Holdings by 1.3% in the first quarter. Bank of America Corp DE now owns 5,140 shares of the financial services provider’s stock worth $120,000 after buying an additional 67 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of 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 worth $133,000 after buying an additional 475 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of 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 worth $148,000 after buying an additional 1,609 shares during the period. Bank of Montreal Can bought a new stake in shares of TriState Capital Holdings during the second quarter worth about $150,000. Finally, First Trust Advisors LP raised its stake in shares of TriState Capital Holdings by 5.0% in the third quarter. First Trust Advisors LP now owns 11,809 shares of the financial services provider’s stock worth $191,000 after buying an additional 560 shares during the period. 57.02% of the stock is owned by institutional investors and hedge funds.
About TriState Capital Holdings
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, LLC (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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