$36.41 Million in Sales Expected for TriState Capital Holdings, Inc. (TSC) This Quarter
Wall Street analysts expect TriState Capital Holdings, Inc. (NASDAQ:TSC) to report $36.41 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for TriState Capital Holdings’ earnings, with the lowest sales estimate coming in at $36.29 million and the highest estimate coming in at $36.52 million. TriState Capital Holdings posted sales of $31.20 million in the same quarter last year, which would indicate a positive year over year growth rate of 16.7%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, October 18th.
According to Zacks, analysts expect that TriState Capital Holdings will report full year sales of $36.41 million for the current fiscal year, with estimates ranging from $140.14 million to $141.98 million. For the next financial year, analysts anticipate that the business will report sales of $167.57 million per share, with estimates ranging from $163.99 million to $172.96 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $33.75 million for the quarter, compared to analyst estimates of $35.27 million. TriState Capital Holdings had a return on equity of 8.98% and a net margin of 19.80%.
A number of analysts have commented on TSC shares. Zacks Investment Research downgraded TriState Capital Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $28.00 price objective on shares of TriState Capital Holdings in a research report on Tuesday, August 22nd. Stephens reiterated a “buy” rating and issued a $30.00 price objective on shares of TriState Capital Holdings in a research report on Thursday, July 20th. BidaskClub downgraded TriState Capital Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, ValuEngine downgraded TriState Capital Holdings from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $28.75.
In other TriState Capital Holdings news, insider Brian S. Fetterolf acquired 1,560 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $21.54 per share, for a total transaction of $33,602.40. Following the transaction, the insider now owns 85,090 shares in the company, valued at approximately $1,832,838.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian S. Fetterolf acquired 3,250 shares of the business’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $21.83 per share, with a total value of $70,947.50. Following the transaction, the insider now owns 85,090 shares in the company, valued at approximately $1,857,514.70. The disclosure for this purchase can be found here. 23.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its position in TriState Capital Holdings by 1.3% in the 1st quarter. Bank of America Corp DE now owns 5,140 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 67 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in TriState Capital Holdings in the 1st quarter valued at $207,000. Alliancebernstein L.P. bought a new position in TriState Capital Holdings in the 1st quarter valued at $219,000. 1st Global Advisors Inc. bought a new position in TriState Capital Holdings in the 2nd quarter valued at $235,000. Finally, Stratos Wealth Partners LTD. bought a new position in TriState Capital Holdings in the 2nd quarter valued at $255,000. Hedge funds and other institutional investors own 59.83% of the company’s stock.
Shares of TriState Capital Holdings (NASDAQ:TSC) opened at 23.15 on Tuesday. TriState Capital Holdings has a 52-week low of $16.05 and a 52-week high of $26.30. The company’s 50 day moving average price is $21.92 and its 200 day moving average price is $23.33. The firm has a market capitalization of $663.59 million, a price-to-earnings ratio of 20.87 and a beta of 0.32.
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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