Tristate Capital Holdings Inc (NASDAQ:TSC) CEO Purchases $41,250.00 in Stock

Tristate Capital Holdings Inc (NASDAQ:TSC) CEO Brian S. Fetterolf acquired 3,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was bought at an average cost of $13.75 per share, for a total transaction of $41,250.00. Following the purchase, the chief executive officer now directly owns 211,325 shares of the company’s stock, valued at $2,905,718.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NASDAQ TSC opened at $13.45 on Thursday. The stock has a market capitalization of $401.35 million, a PE ratio of 8.30 and a beta of 2.04. The business has a 50 day simple moving average of $14.60 and a two-hundred day simple moving average of $16.19. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. Tristate Capital Holdings Inc has a 1-year low of $7.59 and a 1-year high of $26.43.

Tristate Capital (NASDAQ:TSC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.10. The firm had revenue of $46.48 million during the quarter, compared to analysts’ expectations of $48.93 million. Tristate Capital had a return on equity of 11.08% and a net margin of 17.89%. On average, analysts anticipate that Tristate Capital Holdings Inc will post 1.05 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. M&T Bank Corp boosted its holdings in Tristate Capital by 27.5% during the 2nd quarter. M&T Bank Corp now owns 26,416 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 5,703 shares during the period. Skylands Capital LLC boosted its holdings in Tristate Capital by 40.2% during the 2nd quarter. Skylands Capital LLC now owns 169,800 shares of the financial services provider’s stock valued at $2,668,000 after acquiring an additional 48,725 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in Tristate Capital by 101.5% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 240,975 shares of the financial services provider’s stock valued at $3,786,000 after acquiring an additional 121,360 shares during the period. Denali Advisors LLC purchased a new position in Tristate Capital during the 2nd quarter valued at $58,000. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in Tristate Capital by 4.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 29,380 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 1,123 shares during the period. Hedge funds and other institutional investors own 74.39% of the company’s stock.

Several research firms have recently commented on TSC. ValuEngine raised Tristate Capital from a “sell” rating to a “hold” rating in a research note on Thursday, June 25th. BidaskClub downgraded Tristate Capital from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research raised Tristate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Wedbush started coverage on Tristate Capital in a research note on Thursday, June 18th. They set an “outperform” rating and a $20.00 target price on the stock. Finally, Raymond James raised Tristate Capital from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $15.00 to $20.00 in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $21.25.

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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