Millennium Management LLC Has $6.55 Million Holdings in Tristate Capital Holdings Inc (TSC)

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Millennium Management LLC lowered its position in Tristate Capital Holdings Inc (NASDAQ:TSC) by 31.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 250,816 shares of the financial services provider’s stock after selling 115,137 shares during the period. Millennium Management LLC’s holdings in Tristate Capital were worth $6,546,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TSC. OMERS ADMINISTRATION Corp acquired a new position in shares of Tristate Capital in the second quarter worth about $222,000. Cornerstone Wealth Management LLC acquired a new position in shares of Tristate Capital in the second quarter worth about $229,000. Cubist Systematic Strategies LLC acquired a new position in shares of Tristate Capital during the 2nd quarter worth about $230,000. Van Hulzen Asset Management LLC acquired a new position in shares of Tristate Capital during the 2nd quarter worth about $239,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Tristate Capital by 295.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,606 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 7,178 shares during the last quarter. Institutional investors and hedge funds own 66.02% of the company’s stock.

In related news, Chairman James F. Getz sold 10,000 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $29.86, for a total transaction of $298,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.70% of the stock is currently owned by corporate insiders.

Shares of NASDAQ TSC opened at $26.18 on Friday. Tristate Capital Holdings Inc has a 12-month low of $21.90 and a 12-month high of $30.10. The stock has a market cap of $799.00 million, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05.

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

TSC has been the subject of several research analyst reports. ValuEngine upgraded shares of Tristate Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Zacks Investment Research upgraded shares of Tristate Capital from a “sell” rating to a “hold” rating in a research report on Thursday, July 12th. BidaskClub upgraded shares of Tristate Capital from a “sell” rating to a “hold” rating in a research report on Friday, October 5th. Maxim Group upped their price target on shares of Tristate Capital from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Finally, Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a research report on Monday, October 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $30.80.

Tristate Capital 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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Institutional Ownership by Quarter for Tristate Capital (NASDAQ:TSC)

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