TriState Capital (TSC) Announces Earnings Results, Beats Estimates By $0.01 EPS

TriState Capital (NASDAQ:TSC) released its quarterly earnings results on Wednesday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01, Fidelity Earnings reports. TriState Capital had a net margin of 20.96% and a return on equity of 9.56%. The company had revenue of $37.35 million during the quarter, compared to the consensus estimate of $37.99 million.

Shares of NASDAQ:TSC traded up $0.15 during trading on Thursday, reaching $23.80. 2,988 shares of the stock traded hands, compared to its average volume of 110,207. TriState Capital has a 52-week low of $20.30 and a 52-week high of $26.30. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $686.74, a price-to-earnings ratio of 19.07, a PEG ratio of 1.56 and a beta of 0.39.

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A number of equities analysts recently issued reports on TSC shares. BidaskClub downgraded shares of TriState Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Zacks Investment Research raised shares of 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. Boenning Scattergood reaffirmed a “hold” rating on shares of TriState Capital in a research note 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 note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $29.00.

In other news, CFO David J. Demas purchased 2,000 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $50,000. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James J. Dolan sold 65,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $24.93, for a total transaction of $1,620,450.00. Following the sale, the director now owns 13,625 shares in the company, valued at approximately $339,671.25. The disclosure for this sale can be found here. In the last quarter, insiders have bought 12,250 shares of company stock worth $296,710 and have sold 75,000 shares worth $1,851,050. Corporate insiders own 23.40% of the company’s stock.

TriState Capital announced that its board has approved a share buyback plan on Wednesday, January 24th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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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.

Earnings History for TriState Capital (NASDAQ:TSC)

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