Bank of New York Mellon Corp grew its position in Tristate Capital Holdings Inc (NASDAQ:TSC) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,591 shares of the financial services provider’s stock after buying an additional 7,220 shares during the quarter. Bank of New York Mellon Corp owned 1.21% of Tristate Capital worth $9,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in Tristate Capital by 15.8% in the third quarter. Wells Fargo & Company MN now owns 40,822 shares of the financial services provider’s stock valued at $1,127,000 after purchasing an additional 5,555 shares during the period. Prudential Financial Inc. purchased a new position in Tristate Capital in the third quarter valued at $602,000. Shaker Investments LLC OH purchased a new position in Tristate Capital in the third quarter valued at $276,000. BlackRock Inc. boosted its holdings in Tristate Capital by 14.0% in the second quarter. BlackRock Inc. now owns 2,105,354 shares of the financial services provider’s stock valued at $54,949,000 after purchasing an additional 257,814 shares during the period. Finally, ClariVest Asset Management LLC purchased a new position in Tristate Capital in the third quarter valued at $180,000. 71.53% of the stock is owned by institutional investors and hedge funds.

In other news, Director Richard B. Seidel bought 2,500 shares of Tristate Capital stock in a transaction dated Friday, February 1st. The stock was acquired at an average cost of $20.70 per share, with a total value of $51,750.00. Following the acquisition, the director now owns 41,405 shares of the company’s stock, valued at $857,083.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard B. Seidel sold 6,000 shares of the business’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $25.21, for a total value of $151,260.00. Following the completion of the sale, the director now directly owns 35,905 shares of the company’s stock, valued at $905,165.05. The disclosure for this sale can be found here. 23.70% of the stock is owned by insiders.

Shares of NASDAQ TSC opened at $21.49 on Wednesday. The stock has a market cap of $599.76 million, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. Tristate Capital Holdings Inc has a 1 year low of $18.20 and a 1 year high of $30.10.

Tristate Capital (NASDAQ:TSC) last announced its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. The company had revenue of $41.11 million during the quarter, compared to the consensus estimate of $43.54 million. Tristate Capital had a return on equity of 12.54% and a net margin of 21.97%. On average, equities research analysts expect that Tristate Capital Holdings Inc will post 1.92 EPS for the current fiscal year.

A number of research analysts recently issued reports on TSC shares. BidaskClub upgraded Tristate Capital from a “hold” rating to a “buy” rating in a report on Thursday, November 22nd. Maxim Group reaffirmed a “buy” rating and set a $31.00 price target on shares of Tristate Capital in a report on Thursday, October 18th. Stephens reaffirmed a “buy” rating and set a $32.00 price target on shares of Tristate Capital in a report on Thursday, October 18th. Zacks Investment Research downgraded Tristate Capital from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Tristate Capital in a report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.00.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.dailypolitical.com/2019/02/06/bank-of-new-york-mellon-corp-raises-stake-in-tristate-capital-holdings-inc-tsc.html.

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.

Featured Story: Why is cost of goods sold important?

Want to see what other hedge funds are holding TSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tristate Capital Holdings Inc (NASDAQ:TSC).

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

Receive News & Ratings for Tristate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tristate Capital and related companies with MarketBeat.com's FREE daily email newsletter.