1492 Capital Management LLC raised its holdings in Tristate Capital Holdings Inc (NASDAQ:TSC) by 137.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,104 shares of the financial services provider’s stock after purchasing an additional 54,462 shares during the quarter. Tristate Capital accounts for approximately 1.7% of 1492 Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. 1492 Capital Management LLC owned 0.33% of Tristate Capital worth $2,164,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of TSC. Vanguard Group Inc. raised its position in shares of Tristate Capital by 7.8% in the second quarter. Vanguard Group Inc. now owns 951,859 shares of the financial services provider’s stock worth $23,987,000 after acquiring an additional 69,071 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Tristate Capital by 13.6% in the third quarter. Dimensional Fund Advisors LP now owns 872,391 shares of the financial services provider’s stock worth $19,978,000 after acquiring an additional 104,343 shares during the period. Royce & Associates LP raised its position in shares of Tristate Capital by 3.4% in the fourth quarter. Royce & Associates LP now owns 574,009 shares of the financial services provider’s stock worth $13,202,000 after acquiring an additional 19,000 shares during the period. Clearbridge LLC raised its position in shares of Tristate Capital by 10.5% in the fourth quarter. Clearbridge LLC now owns 528,880 shares of the financial services provider’s stock worth $12,164,000 after acquiring an additional 50,370 shares during the period. Finally, Brown Advisory Inc. raised its position in shares of Tristate Capital by 48.7% in the third quarter. Brown Advisory Inc. now owns 460,691 shares of the financial services provider’s stock worth $10,550,000 after acquiring an additional 150,954 shares during the period. 58.71% of the stock is currently owned by institutional investors.
In other Tristate Capital news, insider Brian S. Fetterolf acquired 4,000 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the acquisition, the insider now owns 4,000 shares in the company, valued at $100,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James J. Dolan sold 65,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $24.93, for a total transaction of $1,620,450.00. Following the completion of the sale, the director now owns 13,625 shares of the company’s stock, valued at approximately $339,671.25. The disclosure for this sale can be found here. In the last quarter, insiders acquired 12,250 shares of company stock valued at $296,710 and sold 75,000 shares valued at $1,851,050. 23.40% of the stock is currently owned by corporate insiders.
Tristate Capital Holdings Inc (TSC) opened at $24.15 on Tuesday. Tristate Capital Holdings Inc has a 1 year low of $20.30 and a 1 year high of $26.30. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $714.11, a PE ratio of 19.92, a P/E/G ratio of 1.59 and a beta of 0.42.
Tristate Capital (NASDAQ:TSC) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $36.94 million during the quarter, compared to the consensus estimate of $37.32 million. Tristate Capital had a net margin of 20.96% and a return on equity of 9.56%. analysts forecast that Tristate Capital Holdings Inc will post 1.56 earnings per share for the current year.
Tristate Capital announced that its board has authorized a stock repurchase plan on Wednesday, January 24th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages have weighed in on TSC. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $32.00 price objective on shares of Tristate Capital in a research report on Tuesday, February 27th. Zacks Investment Research downgraded shares of Tristate Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. BidaskClub upgraded shares of Tristate Capital from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a research report on Friday, January 26th. Finally, Raymond James Financial assumed 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.00.
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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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