Brokerages Anticipate Tristate Capital Holdings Inc (NASDAQ:TSC) Will Announce Quarterly Sales of $50.02 Million

Equities research analysts expect Tristate Capital Holdings Inc (NASDAQ:TSC) to post sales of $50.02 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Tristate Capital’s earnings, with the lowest sales estimate coming in at $44.80 million and the highest estimate coming in at $53.27 million. Tristate Capital posted sales of $43.28 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.6%. The business is scheduled to report its next earnings report after the market closes on Wednesday, July 22nd.

According to Zacks, analysts expect that Tristate Capital will report full year sales of $203.60 million for the current year, with estimates ranging from $187.90 million to $215.89 million. For the next year, analysts expect that the business will post sales of $227.10 million, with estimates ranging from $208.80 million to $247.51 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Tristate Capital.

Tristate Capital (NASDAQ:TSC) last announced its earnings results on Monday, April 20th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The business had revenue of $48.24 million during the quarter, compared to analyst estimates of $45.23 million. Tristate Capital had a return on equity of 12.09% and a net margin of 18.48%.

A number of equities analysts have issued reports on TSC shares. Wedbush started coverage on Tristate Capital in a research note on Thursday, June 18th. They set an “outperform” rating and a $20.00 price target for the company. ValuEngine upgraded Tristate Capital from a “sell” rating to a “hold” rating in a research note on Thursday, June 25th. Raymond James upgraded Tristate Capital from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $15.00 to $20.00 in a research note on Wednesday, June 17th. BidaskClub upgraded Tristate Capital from a “hold” rating to a “buy” rating in a research note on Wednesday, June 10th. Finally, B. Riley cut their price target on Tristate Capital from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $21.25.

Tristate Capital stock traded up $0.30 during trading hours on Friday, reaching $15.66. 2,213 shares of the company’s stock were exchanged, compared to its average volume of 168,882. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. The firm’s 50 day simple moving average is $14.85 and its 200 day simple moving average is $17.94. The firm has a market capitalization of $432.40 million, a PE ratio of 8.70 and a beta of 2.00. Tristate Capital has a twelve month low of $7.59 and a twelve month high of $26.43.

In other Tristate Capital news, Director James J. Dolan acquired 9,000 shares of Tristate Capital stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $22.95 per share, for a total transaction of $206,550.00. Following the purchase, the director now owns 18,125 shares of the company’s stock, valued at $415,968.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Fetterolf acquired 2,000 shares of Tristate Capital stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $13.27 per share, with a total value of $26,540.00. Following the completion of the purchase, the chief executive officer now directly owns 215,973 shares in the company, valued at approximately $2,865,961.71. The disclosure for this purchase can be found here. Insiders purchased a total of 23,673 shares of company stock valued at $406,573 over the last quarter. 17.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC bought a new stake in Tristate Capital in the fourth quarter worth $7,381,000. Wedge Capital Management L L P NC bought a new position in shares of Tristate Capital during the first quarter valued at about $2,516,000. Fuller & Thaler Asset Management Inc. raised its stake in shares of Tristate Capital by 26.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 740,628 shares of the financial services provider’s stock valued at $7,162,000 after acquiring an additional 153,364 shares during the last quarter. Skylands Capital LLC bought a new position in shares of Tristate Capital during the first quarter valued at about $1,171,000. Finally, Tieton Capital Management LLC bought a new position in shares of Tristate Capital during the fourth quarter valued at about $2,933,000. Hedge funds and other institutional investors own 74.47% of the company’s stock.

About Tristate Capital

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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