Stephens Reaffirms “Buy” Rating for Tristate Capital (TSC)

Tristate Capital (NASDAQ:TSC)‘s stock had its “buy” rating restated by research analysts at Stephens in a report released on Thursday. They presently have a $32.00 price objective on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 25.74% from the company’s previous close.

TSC has been the topic of several other research reports. ValuEngine upgraded Tristate Capital from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Zacks Investment Research upgraded Tristate Capital from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. BidaskClub upgraded Tristate Capital from a “sell” rating to a “hold” rating in a report on Friday, October 5th. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a report on Monday, October 8th. Finally, Maxim Group upped 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.60.

Shares of TSC stock opened at $25.45 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market cap of $747.18 million, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. Tristate Capital has a 52 week low of $21.90 and a 52 week high of $30.10.

Tristate Capital (NASDAQ:TSC) last announced its earnings results on Wednesday, October 17th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $41.57 million for the quarter, compared to analysts’ expectations of $43.64 million. Tristate Capital had a return on equity of 11.63% and a net margin of 22.52%. As a group, equities analysts predict that Tristate Capital will post 1.72 EPS for the current year.

In other news, Chairman James F. Getz sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $29.77, for a total transaction of $297,700.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 23.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Sheets Smith Wealth Management lifted its stake in Tristate Capital by 13.8% in the second quarter. Sheets Smith Wealth Management now owns 14,020 shares of the financial services provider’s stock valued at $366,000 after buying an additional 1,704 shares during the period. Quantum Capital Management lifted its stake in Tristate Capital by 3.8% in the second quarter. Quantum Capital Management now owns 95,492 shares of the financial services provider’s stock valued at $2,492,000 after buying an additional 3,497 shares during the period. Wells Fargo & Company MN lifted its stake in Tristate Capital by 14.6% in the first quarter. Wells Fargo & Company MN now owns 36,823 shares of the financial services provider’s stock valued at $856,000 after buying an additional 4,700 shares during the period. IFP Advisors Inc lifted its stake in Tristate Capital by 41.7% in the second quarter. IFP Advisors Inc now owns 17,000 shares of the financial services provider’s stock valued at $444,000 after buying an additional 5,000 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new position in Tristate Capital in the second quarter valued at about $229,000. 66.00% of the stock is currently owned by hedge funds and other institutional investors.

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

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Analyst Recommendations for Tristate Capital (NASDAQ:TSC)

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