Citadel Advisors LLC acquired a new stake in Tristate Capital Holdings Inc (NASDAQ:TSC) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,157 shares of the financial services provider’s stock, valued at approximately $255,000.
A number of other large investors have also added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Tristate Capital by 1.3% in the first 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. Alliancebernstein L.P. bought a new position in Tristate Capital in the first quarter valued at about $219,000. 1st Global Advisors Inc. bought a new position in Tristate Capital in the second quarter valued at about $235,000. Voya Investment Management LLC bought a new position in Tristate Capital in the second quarter valued at about $271,000. Finally, Principal Financial Group Inc. bought a new position in Tristate Capital in the second quarter valued at about $278,000. 59.76% of the stock is currently owned by institutional investors and hedge funds.
TSC has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $28.00 target price on shares of Tristate Capital in a research report on Tuesday, August 22nd. ValuEngine downgraded Tristate Capital from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub upgraded Tristate Capital from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Raymond James Financial initiated coverage on Tristate Capital in a research report on Monday. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Zacks Investment Research downgraded Tristate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Tristate Capital currently has a consensus rating of “Buy” and an average price target of $28.60.
Tristate Capital Holdings Inc (NASDAQ:TSC) opened at $23.55 on Friday. Tristate Capital Holdings Inc has a 1 year low of $19.65 and a 1 year high of $26.30. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $667.37, a PE ratio of 19.92, a PEG ratio of 1.90 and a beta of 0.33.
Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. Tristate Capital had a return on equity of 9.21% and a net margin of 19.58%. The company had revenue of $35.31 million during the quarter, compared to the consensus estimate of $36.41 million. research analysts predict that Tristate Capital Holdings Inc will post 1.23 EPS for the current fiscal year.
In other news, Director James J. Dolan sold 12,000 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. 23.40% of the stock is owned by company insiders.
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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.
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