Tristate Capital (NASDAQ:TSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

Several other research firms also recently commented on TSC. Wedbush initiated coverage on Tristate Capital in a research note on Thursday, June 18th. They issued an “outperform” rating and a $20.00 price objective on the stock. ValuEngine raised Tristate Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Raymond James reaffirmed a “buy” rating on shares of Tristate Capital in a research note on Thursday, August 6th. BidaskClub raised Tristate Capital from a “sell” rating to a “hold” rating in a research note on Friday, September 11th. Finally, B. Riley cut Tristate Capital from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $15.00 in a report on Wednesday, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $20.00.

NASDAQ:TSC traded up $0.06 on Wednesday, hitting $15.06. The stock had a trading volume of 547 shares, compared to its average volume of 198,886. The stock has a market cap of $447.87 million, a price-to-earnings ratio of 9.30 and a beta of 1.97. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.81. The business’s 50-day simple moving average is $14.05 and its two-hundred day simple moving average is $13.87. Tristate Capital has a 52-week low of $7.59 and a 52-week high of $26.43.

Tristate Capital (NASDAQ:TSC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.10. The business had revenue of $46.48 million for the quarter, compared to analysts’ expectations of $48.93 million. Tristate Capital had a return on equity of 10.97% and a net margin of 17.89%. As a group, equities research analysts anticipate that Tristate Capital will post 1.08 EPS for the current year.

In other Tristate Capital news, CEO Brian S. Fetterolf acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average price of $12.92 per share, for a total transaction of $25,840.00. Following the acquisition, the chief executive officer now directly owns 213,325 shares in the company, valued at $2,756,159. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Fetterolf acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were acquired at an average price of $13.75 per share, with a total value of $41,250.00. Following the acquisition, the chief executive officer now owns 211,325 shares in the company, valued at $2,905,718.75. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 15,900 shares of company stock valued at $224,407. 17.50% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TSC. American International Group Inc. raised its position in Tristate Capital by 5.0% during the 1st quarter. American International Group Inc. now owns 16,059 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 763 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Tristate Capital by 56.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,737 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 987 shares in the last quarter. Advisor Group Holdings Inc. raised its position in shares of Tristate Capital by 86.8% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,152 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,000 shares in the last quarter. Algert Global LLC raised its position in shares of Tristate Capital by 9.8% in the 2nd quarter. Algert Global LLC now owns 11,780 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 1,053 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its position in shares of Tristate Capital by 4.0% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 29,380 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 1,123 shares in the last quarter. Institutional investors own 78.27% of the company’s stock.

Tristate Capital Company 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. It operates in two segments, Bank and Investment Management. The company's deposit products include checking accounts, money market deposit accounts, and certificates of deposit, as well as promontory's certificate of deposit account registry services and insured cash sweep services.

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