Citadel Advisors LLC increased its holdings in shares of Tristate Capital Holdings Inc (NASDAQ:TSC) by 65.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,557 shares of the financial services provider’s stock after buying an additional 15,684 shares during the quarter. Citadel Advisors LLC’s holdings in Tristate Capital were worth $1,032,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TSC. Wells Fargo & Company MN raised its stake in Tristate Capital by 14.6% during the 1st quarter. Wells Fargo & Company MN now owns 36,823 shares of the financial services provider’s stock worth $856,000 after buying an additional 4,700 shares during the period. Swiss National Bank raised its stake in Tristate Capital by 7.3% during the 1st quarter. Swiss National Bank now owns 39,938 shares of the financial services provider’s stock worth $929,000 after buying an additional 2,700 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Tristate Capital by 13.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 110,669 shares of the financial services provider’s stock worth $2,574,000 after buying an additional 12,984 shares during the period. Private Advisor Group LLC acquired a new stake in Tristate Capital during the 1st quarter worth $349,000. Finally, Cetera Advisor Networks LLC acquired a new stake in Tristate Capital during the 1st quarter worth $406,000. 66.03% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on the company. ValuEngine raised Tristate Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. BidaskClub raised Tristate Capital from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. Zacks Investment Research raised Tristate Capital from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, July 24th. Maxim Group lifted their price target on Tristate Capital from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $35.00 price target on shares of Tristate Capital in a research note on Friday, July 20th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.80.

TSC opened at $28.50 on Friday. The stock has a market capitalization of $859.80 million, a price-to-earnings ratio of 22.98, a PEG ratio of 1.44 and a beta of 0.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. Tristate Capital Holdings Inc has a 1 year low of $20.90 and a 1 year high of $30.10.

Tristate Capital (NASDAQ:TSC) last announced its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $41.29 million during the quarter, compared to analysts’ expectations of $40.72 million. Tristate Capital had a return on equity of 10.73% and a net margin of 22.41%. analysts expect that Tristate Capital Holdings Inc will post 1.72 EPS for the current fiscal year.

In other news, Chairman James F. Getz sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $29.86, for a total value of $298,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.40% of the stock is owned by company insiders.

Tristate Capital Profile

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. The company operates in two segments, Bank and Investment Management.

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Institutional Ownership by Quarter for Tristate Capital (NASDAQ:TSC)

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