Hodges Capital Management Inc. Has $2 Million Stake in Tristate Capital Holdings Inc (TSC)

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Hodges Capital Management Inc. decreased its position in Tristate Capital Holdings Inc (NASDAQ:TSC) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,550 shares of the financial services provider’s stock after selling 10,570 shares during the period. Hodges Capital Management Inc. owned about 0.25% of Tristate Capital worth $2,002,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Virginia Retirement Systems ET AL acquired a new stake in shares of Tristate Capital in the second quarter valued at about $352,000. Royce & Associates LP lifted its stake in shares of Tristate Capital by 14.8% in the second quarter. Royce & Associates LP now owns 731,509 shares of the financial services provider’s stock valued at $19,092,000 after purchasing an additional 94,500 shares during the period. BlackRock Inc. lifted its stake in shares of Tristate Capital by 14.0% in the second quarter. BlackRock Inc. now owns 2,105,354 shares of the financial services provider’s stock valued at $54,949,000 after purchasing an additional 257,814 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Tristate Capital by 13.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 110,669 shares of the financial services provider’s stock valued at $2,574,000 after purchasing an additional 12,984 shares during the period. Finally, LaSalle Street Capital Management LLC acquired a new stake in shares of Tristate Capital in the second quarter valued at about $375,000. 66.08% of the stock is currently owned by institutional investors and hedge funds.

TSC has been the subject of several recent analyst reports. BidaskClub upgraded shares of Tristate Capital from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. ValuEngine upgraded shares of Tristate Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Zacks Investment Research upgraded shares of Tristate Capital from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, July 24th. Maxim Group raised their price objective on shares of Tristate Capital from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $35.00 price objective on shares of Tristate Capital in a research note on Friday, July 20th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Tristate Capital has a consensus rating of “Buy” and an average target price of $31.60.

In other news, Chairman James F. Getz sold 10,000 shares of Tristate Capital 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Fetterolf purchased 2,500 shares of the stock in a transaction dated Tuesday, October 23rd. The shares were purchased at an average price of $23.62 per share, with a total value of $59,050.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 8,300 shares of company stock valued at $202,466. 23.70% of the stock is currently owned by company insiders.

Shares of TSC opened at $24.85 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock has a market cap of $714.47 million, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.20 and a beta of 0.49. Tristate Capital Holdings Inc has a 12-month low of $21.90 and a 12-month high of $30.10.

Tristate Capital (NASDAQ:TSC) last announced its earnings results on Wednesday, October 17th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $41.57 million during the quarter, compared to analysts’ expectations of $43.64 million. Tristate Capital had a net margin of 22.52% and a return on equity of 11.63%. As a group, research analysts anticipate that Tristate Capital Holdings Inc will post 1.71 earnings per share for the current year.

About Tristate Capital

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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