TriState Capital (TSC) Trading Down 5.6%

TriState Capital Holdings (NASDAQ:TSC)’s share price was down 5.6% during mid-day trading on Wednesday . The company traded as low as $25.30 and last traded at $25.50. Approximately 712,224 shares were traded during trading, an increase of 545% from the average daily volume of 110,471 shares. The stock had previously closed at $27.00.

A number of equities research analysts have weighed in on TSC shares. BidaskClub lowered TriState Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Zacks Investment Research lowered TriState Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 29th. Boenning Scattergood reaffirmed a “hold” rating on shares of TriState Capital in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $32.00 target price on shares of TriState Capital in a research report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.25.

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $779.65 million, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.45 and a beta of 0.38.

TriState Capital (NASDAQ:TSC) last issued its earnings results on Wednesday, April 18th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $37.35 million during the quarter, compared to analyst estimates of $37.99 million. TriState Capital had a return on equity of 10.05% and a net margin of 21.12%. equities analysts predict that TriState Capital Holdings will post 1.54 EPS for the current year.

TriState Capital announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 24th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, Director John B. Yasinsky sold 6,000 shares of the business’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $26.50, for a total value of $159,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $318,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian S. Fetterolf purchased 4,000 shares of TriState Capital stock in a transaction dated Thursday, March 15th. The stock was bought at an average cost of $25.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the insider now owns 4,000 shares in the company, valued at approximately $100,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 9,050 shares of company stock valued at $221,845. 23.70% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BW Gestao de Investimentos Ltda. acquired a new position in TriState Capital during the 1st quarter valued at about $223,000. IFP Advisors Inc acquired a new position in TriState Capital during the 4th quarter valued at about $230,000. MetLife Investment Advisors LLC acquired a new position in TriState Capital during the 4th quarter valued at about $263,000. A.R.T. Advisors LLC acquired a new position in TriState Capital during the 1st quarter valued at about $310,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in TriState Capital during the 4th quarter valued at about $319,000. 58.75% of the stock is owned by hedge funds and other institutional investors.

About TriState Capital

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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