TriState Capital Holdings Inc. (TSC) Research Coverage Started at Boenning Scattergood
Boenning Scattergood began coverage on shares of TriState Capital Holdings Inc. (NASDAQ:TSC) in a research note released on Wednesday. The firm issued a neutral rating on the financial services provider’s stock.
A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered TriState Capital Holdings from a buy rating to a hold rating in a research report on Thursday, September 22nd. Maxim Group raised their price objective on TriState Capital Holdings from $16.00 to $17.00 and gave the stock a buy rating in a research report on Friday, July 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. TriState Capital Holdings currently has a consensus rating of Buy and a consensus target price of $16.13.
TriState Capital Holdings (NASDAQ:TSC) opened at 16.25 on Wednesday. The stock has a market cap of $458.49 million, a PE ratio of 18.68 and a beta of 0.24. The firm has a 50-day moving average price of $15.46 and a 200-day moving average price of $13.90. TriState Capital Holdings has a 12-month low of $10.77 and a 12-month high of $16.35.
TriState Capital Holdings (NASDAQ:TSC) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. TriState Capital Holdings had a return on equity of 7.40% and a net margin of 19.08%. Analysts forecast that TriState Capital Holdings will post $0.94 EPS for the current fiscal year.
In related news, Chairman James F. Getz sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $15.25, for a total value of $1,143,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard A. Zappala sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $15.57, for a total value of $77,850.00. Following the completion of the transaction, the director now directly owns 124,980 shares in the company, valued at $1,945,938.60. The disclosure for this sale can be found here. Insiders own 23.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of TriState Capital Holdings by 4.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,535 shares of the financial services provider’s stock worth $133,000 after buying an additional 475 shares during the last quarter. Bank of Montreal Can bought a new position in shares of TriState Capital Holdings during the second quarter worth $150,000. American International Group Inc. increased its position in shares of TriState Capital Holdings by 1.3% in the second quarter. American International Group Inc. now owns 12,626 shares of the financial services provider’s stock worth $173,000 after buying an additional 167 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of TriState Capital Holdings by 2.6% in the second quarter. Parametric Portfolio Associates LLC now owns 14,100 shares of the financial services provider’s stock worth $194,000 after buying an additional 363 shares during the last quarter. Finally, Mesirow Financial Investment Management US Value Equity bought a new position in shares of TriState Capital Holdings during the first quarter worth $202,000. 56.86% of the stock is currently owned by institutional investors and hedge funds.
TriState Capital Holdings Company Profile
TriState Capital Holdings, Inc is a bank holding company. The Company’s subsidiaries include TriState Capital Bank (the Bank), a Pennsylvania chartered bank; Chartwell Investment Partners, Inc (Chartwell), an investment advisor, and Chartwell TSC Securities Corp. (CTSC Securities). The Company operates through two segments: Bank and Investment Management.
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