Chicago Equity Partners LLC bought a new position in Tristate Capital Holdings Inc (NASDAQ:TSC) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 116,260 shares of the financial services provider’s stock, valued at approximately $3,209,000. Chicago Equity Partners LLC owned 0.40% of Tristate Capital as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in TSC. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Tristate Capital in the 3rd quarter worth $119,000. California Public Employees Retirement System purchased a new stake in Tristate Capital in the 2nd quarter worth $202,000. OMERS ADMINISTRATION Corp purchased a new stake in Tristate Capital in the 2nd quarter worth $222,000. Cornerstone Wealth Management LLC purchased a new stake in Tristate Capital in the 2nd quarter worth $229,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Tristate Capital in the 2nd quarter worth $230,000. 65.45% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the company. BidaskClub upgraded Tristate Capital from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. Zacks Investment Research lowered Tristate Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $35.00 price target on shares of Tristate Capital in a research note on Friday, July 20th. Stephens reiterated a “buy” rating and issued a $28.00 price target on shares of Tristate Capital in a research note on Thursday, July 19th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Tristate Capital in a research note on Thursday, October 18th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Tristate Capital has an average rating of “Buy” and an average price target of $31.60.
Shares of TSC stock opened at $25.60 on Friday. Tristate Capital Holdings Inc has a 52-week low of $22.05 and a 52-week high of $30.10. The company has a quick ratio of 1.05, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $733.68 million, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.63.
Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.01. Tristate Capital had a return on equity of 11.43% and a net margin of 22.52%. The business had revenue of $41.57 million during the quarter, compared to analyst estimates of $43.64 million. Analysts expect that Tristate Capital Holdings Inc will post 1.71 EPS for the current year.
In other news, Chairman James F. Getz sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $29.86, for a total transaction of $298,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Fetterolf acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The shares were purchased at an average price of $23.62 per share, with a total value of $59,050.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 16,300 shares of company stock valued at $398,306. Company insiders own 23.40% of the company’s stock.
Tristate Capital 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.
Featured Story: How much money do you need to begin day trading?
Receive News & Ratings for Tristate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tristate Capital and related companies with MarketBeat.com's FREE daily email newsletter.