BidaskClub Lowers Tristate Capital (TSC) to Strong Sell

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BidaskClub lowered shares of Tristate Capital (NASDAQ:TSC) from a sell rating to a strong sell rating in a report issued on Tuesday.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Tristate Capital from a hold rating to a sell rating in a research note on Saturday, January 5th. Stephens reiterated a buy rating and set a $25.00 price objective on shares of Tristate Capital in a research note on Thursday, January 31st. ValuEngine downgraded shares of Tristate Capital from a hold rating to a sell rating in a research report on Wednesday, December 5th. Finally, Maxim Group reissued a buy rating and set a $28.00 price target on shares of Tristate Capital in a research report on Friday, February 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Tristate Capital presently has an average rating of Hold and a consensus target price of $30.00.

NASDAQ TSC opened at $21.43 on Tuesday. Tristate Capital has a one year low of $18.20 and a one year high of $30.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $613.37 million, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 0.91 and a beta of 1.10.

Tristate Capital (NASDAQ:TSC) last posted its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Tristate Capital had a net margin of 21.97% and a return on equity of 12.35%. The firm had revenue of $41.11 million for the quarter, compared to analyst estimates of $43.54 million. Equities research analysts predict that Tristate Capital will post 1.91 EPS for the current year.

In other Tristate Capital news, CEO James F. Getz sold 6,250 shares of Tristate Capital stock in a transaction on Monday, February 25th. The shares were sold at an average price of $22.70, for a total value of $141,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard B. Seidel acquired 2,500 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was acquired at an average cost of $20.70 per share, with a total value of $51,750.00. Following the acquisition, the director now owns 41,405 shares of the company’s stock, valued at $857,083.50. The disclosure for this purchase can be found here. Insiders own 23.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in TSC. Federated Investors Inc. PA boosted its holdings in Tristate Capital by 2,571.1% in the third quarter. Federated Investors Inc. PA now owns 1,015 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 977 shares during the period. Legal & General Group Plc boosted its holdings in shares of Tristate Capital by 15.2% during the fourth quarter. Legal & General Group Plc now owns 4,375 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 576 shares during the period. Mckinley Capital Management LLC Delaware acquired a new position in shares of Tristate Capital during the third quarter valued at $101,000. Girard Partners LTD. acquired a new position in shares of Tristate Capital during the third quarter valued at $138,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Tristate Capital by 407.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,207 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 6,590 shares during the period. 71.68% of the stock is owned by hedge funds and other institutional investors.

Tristate Capital Company 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. It operates in two segments, Bank and Investment Management. The company's deposit products include checking accounts, money market deposit accounts, and certificates of deposit, as well as promontory's certificate of deposit account registry services and insured cash sweep services.

Further Reading: The Discount Rate – What You Need to Know

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