$0.29 Earnings Per Share Expected for TriState Capital Holdings, Inc. (TSC) This Quarter
Equities analysts expect TriState Capital Holdings, Inc. (NASDAQ:TSC) to report earnings per share (EPS) of $0.29 for the current quarter, according to Zacks. Three analysts have provided estimates for TriState Capital Holdings’ earnings, with estimates ranging from $0.28 to $0.30. TriState Capital Holdings posted earnings of $0.30 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.3%. The business is expected to report its next earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that TriState Capital Holdings will report full-year earnings of $1.18 per share for the current financial year, with EPS estimates ranging from $1.14 to $1.20. For the next fiscal year, analysts expect that the business will report earnings of $1.56 per share, with EPS estimates ranging from $1.50 to $1.65. Zacks’ EPS calculations are an average based on a survey of research firms that follow TriState Capital Holdings.
TriState Capital Holdings (NASDAQ:TSC) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. TriState Capital Holdings had a net margin of 19.80% and a return on equity of 8.98%. The company had revenue of $33.75 million for the quarter, compared to analyst estimates of $35.27 million.
TSC has been the topic of several research analyst reports. Stephens reiterated a “buy” rating and set a $30.00 price target on shares of TriState Capital Holdings in a research note on Thursday, July 20th. Zacks Investment Research upgraded shares of TriState Capital Holdings from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, June 22nd. ValuEngine upgraded shares of TriState Capital Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub lowered shares of TriState Capital Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $28.00 price objective on shares of TriState Capital Holdings in a research note on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. TriState Capital Holdings currently has a consensus rating of “Buy” and a consensus price target of $28.40.
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Shares of TriState Capital Holdings (TSC) opened at 20.45 on Friday. The stock has a market capitalization of $586.20 million, a price-to-earnings ratio of 18.44 and a beta of 0.30. TriState Capital Holdings has a 12-month low of $14.11 and a 12-month high of $26.30. The firm has a 50-day moving average of $21.97 and a 200 day moving average of $23.55.
In related news, insider Brian S. Fetterolf acquired 1,560 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $21.54 per share, with a total value of $33,602.40. Following the completion of the acquisition, the insider now owns 85,090 shares in the company, valued at $1,832,838.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James F. Getz sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was 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. 23.40% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Emerald Advisers Inc. PA boosted its holdings in TriState Capital Holdings by 20.3% during the second quarter. Emerald Advisers Inc. PA now owns 14,306 shares of the financial services provider’s stock worth $361,000 after buying an additional 2,412 shares in the last quarter. Berkshire Asset Management LLC PA boosted its holdings in TriState Capital Holdings by 41.7% during the second quarter. Berkshire Asset Management LLC PA now owns 15,431 shares of the financial services provider’s stock worth $389,000 after buying an additional 4,539 shares in the last quarter. Girard Partners LTD. boosted its holdings in TriState Capital Holdings by 1.7% during the second quarter. Girard Partners LTD. now owns 58,767 shares of the financial services provider’s stock worth $1,481,000 after buying an additional 1,000 shares in the last quarter. Second Curve Capital LLC boosted its holdings in TriState Capital Holdings by 0.7% during the first quarter. Second Curve Capital LLC now owns 1,461,422 shares of the financial services provider’s stock worth $34,124,000 after buying an additional 10,144 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in TriState Capital Holdings by 5.4% during the first quarter. Swiss National Bank now owns 37,238 shares of the financial services provider’s stock worth $870,000 after buying an additional 1,900 shares in the last quarter. 59.83% of the stock is currently owned by hedge funds and other institutional investors.
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, 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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