1492 Capital Management LLC raised its stake in shares of Tristate Capital Holdings Inc (NASDAQ:TSC) by 137.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 94,104 shares of the financial services provider’s stock after acquiring an additional 54,462 shares during the period. Tristate Capital makes up approximately 1.7% of 1492 Capital Management LLC’s holdings, making the stock its 24th biggest position. 1492 Capital Management LLC owned approximately 0.33% of Tristate Capital worth $2,164,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vident Investment Advisory LLC bought a new position in Tristate Capital during the 3rd quarter valued at about $267,000. Cortina Asset Management LLC increased its position in shares of Tristate Capital by 76.3% during the 3rd quarter. Cortina Asset Management LLC now owns 299,844 shares of the financial services provider’s stock valued at $6,866,000 after purchasing an additional 129,790 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Tristate Capital by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 951,859 shares of the financial services provider’s stock valued at $23,987,000 after purchasing an additional 69,071 shares during the last quarter. Castine Capital Management LLC increased its position in shares of Tristate Capital by 9.7% during the 3rd quarter. Castine Capital Management LLC now owns 235,789 shares of the financial services provider’s stock valued at $5,399,000 after purchasing an additional 20,835 shares during the last quarter. Finally, Carroll Financial Associates Inc. purchased a new stake in shares of Tristate Capital during the 4th quarter valued at about $519,000. Institutional investors and hedge funds own 58.80% of the company’s stock.
Several research firms have recently commented on TSC. BidaskClub lowered shares of Tristate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Tristate Capital in a research report on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $32.00 price target on shares of Tristate Capital in a research report on Tuesday, February 27th. Zacks Investment Research raised shares of Tristate Capital from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research report on Friday, January 12th. Finally, Raymond James Financial began coverage on shares of Tristate Capital in a research report on Monday, December 11th. They set an “outperform” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Tristate Capital currently has a consensus rating of “Hold” and an average target price of $29.00.
Shares of Tristate Capital Holdings Inc (NASDAQ:TSC) opened at $24.05 on Tuesday. Tristate Capital Holdings Inc has a 52-week low of $20.30 and a 52-week high of $26.30. The company has a market cap of $696.77, a PE ratio of 18.22, a PEG ratio of 1.51 and a beta of 0.42. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.07.
Tristate Capital (NASDAQ:TSC) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $36.94 million during the quarter, compared to analyst estimates of $37.32 million. Tristate Capital had a net margin of 20.96% and a return on equity of 9.56%. sell-side analysts expect that Tristate Capital Holdings Inc will post 1.59 earnings per share for the current fiscal year.
Tristate Capital announced that its board has initiated a stock buyback program on Wednesday, January 24th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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Tristate Capital 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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