BidaskClub Downgrades Tristate Capital (TSC) to Hold

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Tristate Capital (NASDAQ:TSC) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research firms have also recently weighed in on TSC. Stephens reaffirmed a “buy” rating and set a $28.00 price objective on shares of Tristate Capital in a research report on Thursday, July 19th. ValuEngine raised Tristate Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Maxim Group lifted their price objective on Tristate Capital from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Zacks Investment Research cut Tristate Capital from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $35.00 price objective on shares of Tristate Capital in a research report on Friday, July 20th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.80.

Shares of NASDAQ:TSC opened at $28.75 on Friday. The stock has a market capitalization of $852.56 million, a price-to-earnings ratio of 20.31, a PEG ratio of 1.43 and a beta of 0.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. Tristate Capital has a 52-week low of $20.98 and a 52-week high of $30.10.

Tristate Capital (NASDAQ:TSC) last announced its earnings results on Wednesday, July 18th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The business had revenue of $41.29 million for the quarter, compared to analysts’ expectations of $40.72 million. Tristate Capital had a return on equity of 10.73% and a net margin of 22.41%. equities analysts anticipate that Tristate Capital will post 1.72 EPS for the current year.

In related news, Chairman James F. Getz sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $29.86, for a total value of $298,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 23.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of TSC. California Public Employees Retirement System purchased a new position in Tristate Capital in the 2nd quarter worth approximately $202,000. OMERS ADMINISTRATION Corp purchased a new position in Tristate Capital in the 2nd quarter worth approximately $222,000. BW Gestao de Investimentos Ltda. purchased a new position in Tristate Capital in the 1st quarter worth approximately $223,000. Cornerstone Wealth Management LLC purchased a new position in Tristate Capital in the 2nd quarter worth approximately $229,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Tristate Capital in the 2nd quarter worth approximately $230,000. 66.03% of the stock is currently owned by 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.

See Also: Fiduciary

Analyst Recommendations for Tristate Capital (NASDAQ:TSC)

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