Carroll Financial Associates Inc. Acquires Shares of 22,600 Tristate Capital Holdings Inc (TSC)

Carroll Financial Associates Inc. acquired a new stake in shares of Tristate Capital Holdings Inc (NASDAQ:TSC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,600 shares of the financial services provider’s stock, valued at approximately $519,000.

A number of other hedge funds also recently modified their holdings of TSC. 1st Global Advisors Inc. purchased a new stake in Tristate Capital in the second quarter valued at about $235,000. Voya Investment Management LLC purchased a new position in shares of Tristate Capital in the second quarter worth about $271,000. Principal Financial Group Inc. purchased a new position in shares of Tristate Capital in the second quarter worth about $278,000. Citadel Advisors LLC purchased a new position in shares of Tristate Capital in the third quarter worth about $255,000. Finally, Vident Investment Advisory LLC purchased a new position in shares of Tristate Capital in the third quarter worth about $267,000. 59.70% of the stock is currently owned by institutional investors.

TSC has been the subject of several research analyst reports. BidaskClub upgraded Tristate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Raymond James Financial initiated coverage on Tristate Capital in a research note on Monday, December 11th. They issued an “outperform” rating and a $28.00 price objective for the company. Zacks Investment Research upgraded Tristate Capital from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research note on Friday, January 12th. Finally, ValuEngine cut Tristate Capital from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.33.

In related 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.40% of the stock is owned by company insiders.

Shares of Tristate Capital Holdings Inc (NASDAQ TSC) opened at $24.15 on Friday. The company has a market capitalization of $688.85, a PE ratio of 20.64, a P/E/G ratio of 1.47 and a beta of 0.33. Tristate Capital Holdings Inc has a 1-year low of $20.30 and a 1-year high of $26.30. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.74.

Tristate Capital (NASDAQ:TSC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $35.31 million for the quarter, compared to analyst estimates of $36.41 million. Tristate Capital had a return on equity of 9.21% and a net margin of 19.58%. analysts predict that Tristate Capital Holdings Inc will post 1.22 EPS for the current year.

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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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Institutional Ownership by Quarter for Tristate Capital (NASDAQ:TSC)

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