Castine Capital Management LLC increased its stake in shares of TriState Capital Holdings, Inc. (NASDAQ:TSC) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,789 shares of the financial services provider’s stock after buying an additional 20,835 shares during the period. TriState Capital accounts for approximately 2.0% of Castine Capital Management LLC’s holdings, making the stock its 27th biggest holding. Castine Capital Management LLC owned about 0.82% of TriState Capital worth $5,399,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Girard Partners LTD. lifted its position in TriState Capital by 1.7% during the 2nd quarter. Girard Partners LTD. now owns 58,767 shares of the financial services provider’s stock valued at $1,481,000 after purchasing an additional 1,000 shares during the period. Cortina Asset Management LLC lifted its position in 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 period. Northpointe Capital LLC increased its stake in shares of TriState Capital by 58.3% in the 3rd quarter. Northpointe Capital LLC now owns 802,392 shares of the financial services provider’s stock valued at $18,375,000 after acquiring an additional 295,461 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of TriState Capital by 7.8% in the 2nd quarter. Vanguard Group Inc. now owns 951,859 shares of the financial services provider’s stock valued at $23,987,000 after acquiring an additional 69,071 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of TriState Capital by 88.3% in the 2nd quarter. Alliancebernstein L.P. now owns 17,700 shares of the financial services provider’s stock valued at $446,000 after acquiring an additional 8,300 shares during the last quarter. Institutional investors and hedge funds own 59.76% of the company’s stock.
A number of analysts have recently commented on the company. ValuEngine cut TriState Capital from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub raised TriState Capital from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Zacks Investment Research cut TriState Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $28.00 price target on shares of TriState Capital in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $28.75.
TriState Capital (NASDAQ:TSC) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $35.31 million during the quarter, compared to analysts’ expectations of $36.41 million. TriState Capital had a net margin of 19.58% and a return on equity of 9.21%. analysts anticipate that TriState Capital Holdings, Inc. will post 1.23 earnings per share for the current year.
In other news, Director James J. Dolan sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $24.32, for a total transaction of $291,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 23.40% of the stock is owned by company insiders.
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About TriState Capital
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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