Quantum Capital Management boosted its position in shares of Tristate Capital Holdings Inc (NASDAQ:TSC) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,492 shares of the financial services provider’s stock after purchasing an additional 3,497 shares during the period. Quantum Capital Management owned about 0.33% of Tristate Capital worth $2,492,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp acquired a new stake in shares of Tristate Capital in the 2nd quarter valued at about $222,000. BW Gestao de Investimentos Ltda. bought a new position in Tristate Capital during the 1st quarter valued at about $223,000. Cornerstone Wealth Management LLC bought a new position in Tristate Capital during the 2nd quarter valued at about $229,000. Cubist Systematic Strategies LLC bought a new position in Tristate Capital during the 2nd quarter valued at about $230,000. Finally, Van Hulzen Asset Management LLC bought a new position in Tristate Capital during the 2nd quarter valued at about $239,000. 66.03% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on TSC shares. ValuEngine raised shares of Tristate Capital from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Zacks Investment Research raised shares of Tristate Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Maxim Group boosted their target price on shares of Tristate Capital from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, July 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $35.00 target price on shares of Tristate Capital in a research note on Friday, July 20th. Finally, Stephens reaffirmed a “buy” rating and issued a $28.00 target price on shares of Tristate Capital in a research note on Thursday, July 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $30.80.
Shares of NASDAQ TSC traded down $0.05 during trading on Tuesday, reaching $29.75. The company had a trading volume of 1,686 shares, compared to its average volume of 147,033. Tristate Capital Holdings Inc has a 52 week low of $20.55 and a 52 week high of $30.10. The company has a market cap of $862.69 million, a PE ratio of 23.99, a P/E/G ratio of 1.45 and a beta of 0.46. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.
Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. Tristate Capital had a net margin of 22.41% and a return on equity of 10.73%. The company had revenue of $41.29 million during the quarter, compared to analysts’ expectations of $40.72 million. equities research analysts forecast that Tristate Capital Holdings Inc will post 1.72 earnings per share for the current year.
In other news, Chairman James F. Getz sold 10,000 shares of Tristate Capital stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $29.86, for a total transaction of $298,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.70% of the stock is owned by insiders.
Tristate Capital Company Profile
TriState Capital Holdings, Inc operates as the bank holding company for TriState Capital Bank that provides various commercial and private banking services to middle-market businesses and high-net-worth individuals in the United States. The company operates in two segments, Bank and Investment Management.
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