Tristate Capital (TSC) – Analysts’ Recent Ratings Changes

Tristate Capital (NASDAQ: TSC) has recently received a number of price target changes and ratings updates:

  • 10/24/2018 – Tristate Capital was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/23/2018 – Tristate Capital was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Tristate Capital Holdings, Inc. is a bank holding company for TriState Capital Bank. The company provides commercial and private banking services to middle market businesses, professionals and high net worth individuals. It offers deposit products, commercial and industrial loans as well as cash management services which consist of online balance reporting, online bill payment, remote deposit, liquidity services, wire and ACH services, foreign exchange, controlled disbursement services and capital market services. Tristate Capital Holdings, Inc. is headquartered in Pittsburgh, Pennsylvania. “
  • 10/18/2018 – Tristate Capital had its “hold” rating reaffirmed by analysts at Boenning Scattergood.
  • 10/18/2018 – Tristate Capital had its “buy” rating reaffirmed by analysts at Maxim Group. They now have a $31.00 price target on the stock. They wrote, “3Q18 EPS of $0.47 versus consensus of $0.46, driven by very strong growth in loans (up 4.5% linked-quarter) and deposits (up 7.1%), though a narrower net interest margin (down 16bps).””
  • 10/18/2018 – Tristate Capital had its “buy” rating reaffirmed by analysts at Stephens. They now have a $32.00 price target on the stock.
  • 10/8/2018 – Tristate Capital had its “hold” rating reaffirmed by analysts at Boenning Scattergood. They wrote, “Acquisitions: Maintain Neutral – Though we are attracted to TriState’s balance sheet and EPS growth trajectory, we believe the Bull/Bear cases generally offset, particularly with regard to EPS growth versus the potential for an equity raise in the modeling period. Though management suggests this is unlikely (including a share repurchase authorization), a large wealth management transaction could change the equation. As such, this leaves us with a valuation call. The stock currently trades at a deserved premium compared to other limited branch, high-growth peers including those with better return metrics (consensus 2019 P/E 13.9x vs. 10.6x, price-to-tangible book 236% vs. 161%). In light of these factors, we maintain our Neutral rating.””
  • 10/5/2018 – Tristate Capital was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 9/27/2018 – Tristate Capital was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 9/14/2018 – Tristate Capital was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 9/6/2018 – Tristate Capital was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/28/2018 – Tristate Capital was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Tristate Capital stock traded up $0.42 during trading hours on Friday, hitting $24.68. The stock had a trading volume of 529,494 shares, compared to its average volume of 155,999. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock has a market cap of $688.71 million, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.15 and a beta of 0.49. Tristate Capital Holdings Inc has a fifty-two week low of $21.90 and a fifty-two week high of $30.10.

Tristate Capital (NASDAQ:TSC) last posted its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $41.57 million during the quarter, compared to analysts’ expectations of $43.64 million. Tristate Capital had a return on equity of 11.63% and a net margin of 22.52%. On average, analysts expect that Tristate Capital Holdings Inc will post 1.72 earnings per share for the current fiscal year.



In other news, CEO Brian S. Fetterolf purchased 2,500 shares of the business’s stock in a transaction on Tuesday, October 23rd. The stock was purchased at an average price of $23.62 per share, with a total value of $59,050.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman James F. Getz sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $29.77, for a total value of $297,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 8,300 shares of company stock valued at $202,466. Insiders own 23.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of TSC. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Tristate Capital in the 3rd quarter worth approximately $119,000. California Public Employees Retirement System acquired a new position in shares of Tristate Capital in the 2nd quarter worth approximately $202,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Tristate Capital in the 2nd quarter worth approximately $222,000. Cornerstone Wealth Management LLC acquired a new position in shares of Tristate Capital in the 2nd quarter worth approximately $229,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Tristate Capital in the 2nd quarter worth approximately $230,000. 66.06% of the stock is owned by institutional investors and hedge funds.

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. The company operates in two segments, Bank and Investment Management.

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