Short Interest in Tristate Capital Holdings Inc (NASDAQ:TSC) Expands By 22.7%

Tristate Capital Holdings Inc (NASDAQ:TSC) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,570,000 shares, a growth of 22.7% from the September 30th total of 1,280,000 shares. Based on an average daily volume of 113,800 shares, the short-interest ratio is currently 13.8 days. Approximately 6.5% of the shares of the company are sold short.

In other Tristate Capital news, CEO James F. Getz bought 25,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were bought at an average price of $19.78 per share, for a total transaction of $494,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 51,000 shares of company stock worth $999,200 in the last quarter. 17.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Aperio Group LLC acquired a new stake in shares of Tristate Capital during the 2nd quarter worth $25,000. Tower Research Capital LLC TRC increased its holdings in shares of Tristate Capital by 2,613.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,384 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,333 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Tristate Capital during the 2nd quarter worth $97,000. Pacific Ridge Capital Partners LLC acquired a new stake in shares of Tristate Capital during the 2nd quarter worth $260,000. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Tristate Capital by 59.0% during the 3rd quarter. Carroll Financial Associates Inc. now owns 18,050 shares of the financial services provider’s stock worth $379,000 after buying an additional 6,700 shares during the last quarter. Institutional investors own 70.49% of the company’s stock.

Shares of TSC opened at $23.66 on Thursday. The stock has a fifty day moving average of $22.43 and a two-hundred day moving average of $21.39. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $697.43 million, a PE ratio of 13.68 and a beta of 1.07. Tristate Capital has a fifty-two week low of $18.20 and a fifty-two week high of $25.65.

Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.07. The company had revenue of $46.56 million during the quarter, compared to the consensus estimate of $45.39 million. Tristate Capital had a return on equity of 13.05% and a net margin of 19.84%. As a group, equities research analysts forecast that Tristate Capital will post 1.88 earnings per share for the current fiscal year.

TSC has been the topic of several research analyst reports. BidaskClub raised Tristate Capital from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. ValuEngine lowered Tristate Capital from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Raymond James decreased their price target on Tristate Capital from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. B. Riley set a $27.00 price target on Tristate Capital and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Tristate Capital in a research note on Thursday, July 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.80.

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.

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