Tristate Capital Holdings Inc (TSC) Receives Average Recommendation of “Buy” from Analysts

Tristate Capital Holdings Inc (NASDAQ:TSC) has earned an average rating of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $28.33.

A number of analysts have recently commented on the company. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a research note on Friday. BidaskClub upgraded Tristate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Zacks Investment Research upgraded Tristate Capital from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research note on Friday, January 12th. Raymond James Financial began coverage on Tristate Capital in a research note on Monday, December 11th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, ValuEngine downgraded Tristate Capital from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.

Shares of Tristate Capital (NASDAQ:TSC) opened at $25.15 on Monday. Tristate Capital has a one year low of $20.30 and a one year high of $26.30. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $720.42, a PE ratio of 19.05, a PEG ratio of 1.54 and a beta of 0.33.

Tristate Capital (NASDAQ:TSC) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Tristate Capital had a return on equity of 9.69% and a net margin of 20.96%. The firm had revenue of $36.94 million for the quarter, compared to the consensus estimate of $37.32 million. research analysts expect that Tristate Capital will post 1.63 EPS for the current fiscal year.

Tristate Capital declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 24th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

In other Tristate Capital news, Director James J. Dolan sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $24.32, for a total transaction of $291,840.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 23.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc purchased a new position in shares of Tristate Capital in the fourth quarter valued at approximately $230,000. 1st Global Advisors Inc. purchased a new position in shares of Tristate Capital in the second quarter valued at approximately $235,000. Citadel Advisors LLC purchased a new position in shares of Tristate Capital in the third quarter valued at approximately $255,000. Vident Investment Advisory LLC purchased a new position in shares of Tristate Capital in the third quarter valued at approximately $267,000. Finally, Voya Investment Management LLC purchased a new position in shares of Tristate Capital in the second quarter valued at approximately $271,000. Institutional investors and hedge funds own 59.90% of the company’s stock.

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Tristate Capital 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.

Analyst Recommendations for Tristate Capital (NASDAQ:TSC)

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