Zacks Investment Research cut shares of TriState Capital Holdings, Inc. (NASDAQ:TSC) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Tristate Capital Holdings, Inc. is a bank holding company for TriState Capital Bank. The company provides commercial and private banking services to middle market businesses, professionals and high net worth individuals. It offers deposit products, commercial and industrial loans as well as cash management services which consist of online balance reporting, online bill payment, remote deposit, liquidity services, wire and ACH services, foreign exchange, controlled disbursement services and capital market services. Tristate Capital Holdings, Inc. is headquartered in Pittsburgh, Pennsylvania. “

Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of TriState Capital Holdings from a hold rating to a buy rating in a research note on Thursday, July 20th. BidaskClub raised shares of TriState Capital Holdings from a strong sell rating to a sell rating in a research note on Wednesday. Stephens reaffirmed a buy rating and set a $30.00 price objective on shares of TriState Capital Holdings in a research note on Thursday, July 20th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $28.00 price objective on shares of TriState Capital Holdings in a research note on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $28.40.

TriState Capital Holdings (NASDAQ TSC) traded up 1.61% during trading on Wednesday, hitting $22.15. 31,650 shares of the stock traded hands. TriState Capital Holdings has a 52-week low of $15.32 and a 52-week high of $26.30. The stock has a market cap of $634.93 million, a P/E ratio of 19.97 and a beta of 0.30. The stock has a 50 day moving average price of $21.47 and a 200-day moving average price of $23.40.

TriState Capital Holdings (NASDAQ:TSC) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $33.75 million for the quarter, compared to analysts’ expectations of $35.27 million. TriState Capital Holdings had a net margin of 19.80% and a return on equity of 8.98%. On average, analysts anticipate that TriState Capital Holdings will post $1.19 EPS for the current fiscal year.

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In related news, insider Brian S. Fetterolf purchased 1,560 shares of TriState Capital Holdings stock in a transaction dated Thursday, August 17th. The shares were acquired at an average price of $21.54 per share, for a total transaction of $33,602.40. Following the acquisition, the insider now directly owns 85,090 shares in the company, valued at $1,832,838.60. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian S. Fetterolf purchased 3,250 shares of TriState Capital Holdings stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $21.83 per share, for a total transaction of $70,947.50. Following the acquisition, the insider now owns 85,090 shares in the company, valued at $1,857,514.70. The disclosure for this purchase can be found here. Company insiders own 23.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Second Curve Capital LLC raised its holdings in shares of TriState Capital Holdings by 0.7% during the 1st quarter. Second Curve Capital LLC now owns 1,461,422 shares of the financial services provider’s stock worth $34,124,000 after acquiring an additional 10,144 shares during the period. Vanguard Group Inc. raised its holdings in shares of TriState Capital Holdings by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 951,859 shares of the financial services provider’s stock worth $23,987,000 after acquiring an additional 69,071 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of TriState Capital Holdings by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 768,048 shares of the financial services provider’s stock worth $19,355,000 after acquiring an additional 76,080 shares during the period. Royce & Associates LP raised its holdings in shares of TriState Capital Holdings by 5.7% during the 1st quarter. Royce & Associates LP now owns 613,409 shares of the financial services provider’s stock worth $14,323,000 after acquiring an additional 32,900 shares during the period. Finally, Northpointe Capital LLC raised its holdings in shares of TriState Capital Holdings by 8.0% during the 2nd quarter. Northpointe Capital LLC now owns 506,931 shares of the financial services provider’s stock worth $12,775,000 after acquiring an additional 37,348 shares during the period. Institutional investors and hedge funds own 59.83% of the company’s stock.

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.

Analyst Recommendations for TriState Capital Holdings (NASDAQ:TSC)

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