Tristate Capital Holdings Inc (TSC) Director James J. Dolan Sells 65,000 Shares

Tristate Capital Holdings Inc (NASDAQ:TSC) Director James J. Dolan sold 65,000 shares of Tristate Capital stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $24.93, for a total value of $1,620,450.00. Following the completion of the sale, the director now directly owns 13,625 shares in the company, valued at approximately $339,671.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Tristate Capital Holdings Inc (NASDAQ:TSC) traded up $0.45 during trading on Thursday, reaching $23.20. The company’s stock had a trading volume of 114,300 shares, compared to its average volume of 103,445. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.06 and a current ratio of 1.06. Tristate Capital Holdings Inc has a 52-week low of $20.30 and a 52-week high of $26.30. The firm has a market cap of $650.38, a P/E ratio of 18.35, a P/E/G ratio of 1.43 and a beta of 0.35.

Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The firm had revenue of $36.94 million during the quarter, compared to the consensus estimate of $37.32 million. Tristate Capital had a return on equity of 9.69% and a net margin of 20.96%. analysts forecast that Tristate Capital Holdings Inc will post 1.59 earnings per share for the current fiscal year.

Tristate Capital declared that its board has initiated a share buyback program on Wednesday, January 24th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in Tristate Capital by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,057 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 596 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Tristate Capital by 4.9% during the 2nd quarter. California Public Employees Retirement System now owns 19,300 shares of the financial services provider’s stock worth $486,000 after buying an additional 900 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Tristate Capital by 11.9% during the 2nd quarter. Wells Fargo & Company MN now owns 16,926 shares of the financial services provider’s stock worth $426,000 after buying an additional 1,805 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Tristate Capital by 0.6% during the 4th quarter. Deutsche Bank AG now owns 393,679 shares of the financial services provider’s stock worth $9,051,000 after buying an additional 2,470 shares in the last quarter. Finally, NBW Capital LLC lifted its position in shares of Tristate Capital by 5.2% during the 2nd quarter. NBW Capital LLC now owns 76,175 shares of the financial services provider’s stock worth $1,920,000 after buying an additional 3,787 shares in the last quarter. 59.56% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the company. Raymond James Financial assumed coverage on Tristate Capital in a research note on Monday, December 11th. They issued an “outperform” rating and a $28.00 price target for the company. Zacks Investment Research upgraded Tristate Capital from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research note on Friday, January 12th. BidaskClub cut Tristate Capital from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Finally, Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Tristate Capital currently has an average rating of “Hold” and a consensus price target of $28.33.

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About Tristate Capital

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.

Insider Buying and Selling by Quarter for Tristate Capital (NASDAQ:TSC)

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