Berkshire Asset Management LLC PA Buys New Stake in Tristate Capital Holdings Inc (TSC)
Berkshire Asset Management LLC PA bought a new stake in Tristate Capital Holdings Inc (NASDAQ:TSC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,892 shares of the financial services provider’s stock, valued at approximately $254,000.
Several other large investors have also recently bought and sold shares of TSC. First Trust Advisors LP raised its stake in Tristate Capital Holdings by 5.0% in the third quarter. First Trust Advisors LP now owns 11,809 shares of the financial services provider’s stock valued at $191,000 after buying an additional 560 shares during the last quarter. Spark Investment Management LLC purchased a new stake in Tristate Capital Holdings during the third quarter valued at about $214,000. GSA Capital Partners LLP purchased a new stake in Tristate Capital Holdings during the fourth quarter valued at about $260,000. Sheets Smith Wealth Management purchased a new stake in Tristate Capital Holdings during the first quarter valued at about $285,000. Finally, A.R.T. Advisors LLC purchased a new stake in Tristate Capital Holdings during the fourth quarter valued at about $382,000. 56.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tristate Capital Holdings Inc (NASDAQ:TSC) traded down 1.31% on Tuesday, reaching $22.60. 16,285 shares of the company were exchanged. The company has a market capitalization of $647.22 million, a P/E ratio of 22.38 and a beta of 0.29. The stock has a 50 day moving average of $23.25 and a 200-day moving average of $20.99. Tristate Capital Holdings Inc has a 52-week low of $12.14 and a 52-week high of $24.90.
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TSC has been the topic of a number of research reports. Zacks Investment Research raised shares of Tristate Capital Holdings from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, February 1st. DA Davidson initiated coverage on shares of Tristate Capital Holdings in a research note on Monday, March 6th. They issued a “buy” rating and a $29.00 price target on the stock. They noted that the move was a valuation call. Finally, Maxim Group raised their price target on shares of Tristate Capital Holdings from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, December 19th.
In related news, Director John B. Yasinsky sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $23.70, for a total transaction of $142,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 23.50% of the stock is currently owned by insiders.
About Tristate Capital Holdings
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, LLC (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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