Russell Investments Group Ltd. Reduces Position in TriState Capital Holdings, Inc. (TSC)

Russell Investments Group Ltd. reduced its position in shares of TriState Capital Holdings, Inc. (NASDAQ:TSC) by 10.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,901 shares of the financial services provider’s stock after selling 3,754 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of TriState Capital Holdings worth $854,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sheets Smith Wealth Management increased its holdings in TriState Capital Holdings by 0.5% during the 2nd quarter. Sheets Smith Wealth Management now owns 12,257 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 65 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of TriState Capital Holdings by 1.3% in the first quarter. Bank of America Corp DE now owns 5,140 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 67 shares in the last quarter. American International Group Inc. grew its holdings in shares of TriState Capital Holdings by 7.2% in the first quarter. American International Group Inc. now owns 13,513 shares of the financial services provider’s stock valued at $316,000 after acquiring an additional 902 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of TriState Capital Holdings by 4.7% in the first quarter. Goldman Sachs Group Inc. now owns 37,412 shares of the financial services provider’s stock valued at $873,000 after acquiring an additional 1,684 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of TriState Capital Holdings by 5.4% in the first quarter. Swiss National Bank now owns 37,238 shares of the financial services provider’s stock valued at $870,000 after acquiring an additional 1,900 shares in the last quarter. 59.83% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have weighed in on TSC shares. ValuEngine raised TriState Capital Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded TriState Capital Holdings from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, June 22nd. BidaskClub downgraded TriState Capital Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Stephens reiterated a “buy” rating and issued a $30.00 price objective on shares of TriState Capital Holdings in a research report on Thursday, July 20th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $28.00 price objective on shares of TriState Capital Holdings in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $28.40.

TriState Capital Holdings, Inc. (TSC) traded down 0.24% during trading on Friday, hitting $21.00. 57,959 shares of the stock traded hands. The firm has a 50-day moving average price of $21.59 and a 200 day moving average price of $23.45. The firm has a market cap of $601.97 million, a PE ratio of 18.94 and a beta of 0.30. TriState Capital Holdings, Inc. has a 12 month low of $14.11 and a 12 month high of $26.30.

TriState Capital Holdings (NASDAQ:TSC) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. TriState Capital Holdings had a net margin of 19.80% and a return on equity of 8.98%. The firm had revenue of $33.75 million for the quarter, compared to the consensus estimate of $35.27 million. On average, equities analysts forecast that TriState Capital Holdings, Inc. will post $1.19 EPS for the current fiscal year.

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

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TriState Capital Holdings Company Profile

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.

Institutional Ownership by Quarter for TriState Capital Holdings (NASDAQ:TSC)

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