Tristate Capital (TSC) Earns “Buy” Rating from Maxim Group

Tristate Capital (NASDAQ:TSC)‘s stock had its “buy” rating restated by stock analysts at Maxim Group in a research note issued to investors on Sunday, AnalystRatings.com reports. They presently have a $28.00 price objective on the financial services provider’s stock. Maxim Group’s target price would suggest a potential upside of 21.00% from the company’s current price.

The analysts wrote, “EPS beat were strong growth in loans and deposits, a stable net interest margin, and a (small) negative loan loss provision. Our $28 price target equates to 12.2x our newly-introduced 2020 EPS estimate of $2.30, versus an average of 9.9x for Small-Cap peers and 12.4x for higher- valued Small-Cap peers. In our view, TSC should be compared to the higher- valued peers, due to its many above-peer attributes (see below).””

A number of other analysts also recently weighed in on the stock. Boenning Scattergood restated a “hold” rating on shares of Tristate Capital in a report on Thursday. Stephens reiterated a “buy” rating and set a $26.00 price target on shares of Tristate Capital in a report on Thursday. Zacks Investment Research downgraded shares of Tristate Capital from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub upgraded shares of Tristate Capital from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $30.25.

Tristate Capital stock opened at $23.14 on Friday. Tristate Capital has a twelve month low of $18.20 and a twelve month high of $30.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $639.58 million, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.95 and a beta of 1.08.

Tristate Capital (NASDAQ:TSC) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. Tristate Capital had a net margin of 21.97% and a return on equity of 12.35%. The firm had revenue of $43.82 million for the quarter, compared to the consensus estimate of $43.30 million. On average, equities analysts forecast that Tristate Capital will post 1.9 earnings per share for the current fiscal year.

In other news, Director Richard B. Seidel purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were bought at an average cost of $20.70 per share, for a total transaction of $51,750.00. Following the acquisition, the director now owns 41,405 shares of the company’s stock, valued at approximately $857,083.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James F. Getz sold 6,250 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $22.62, for a total transaction of $141,375.00. The disclosure for this sale can be found here. Corporate insiders own 23.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in shares of Tristate Capital by 15.8% in the 3rd quarter. Wells Fargo & Company MN now owns 40,822 shares of the financial services provider’s stock worth $1,127,000 after purchasing an additional 5,555 shares during the period. BW Gestao de Investimentos Ltda. lifted its position in shares of Tristate Capital by 7.6% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 17,264 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 1,212 shares during the period. Prudential Financial Inc. purchased a new stake in shares of Tristate Capital in the 3rd quarter worth approximately $602,000. MUFG Securities EMEA plc purchased a new stake in shares of Tristate Capital in the 4th quarter worth approximately $1,421,000. Finally, Stratos Wealth Partners LTD. lifted its position in shares of Tristate Capital by 4.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 25,000 shares of the financial services provider’s stock worth $487,000 after purchasing an additional 1,000 shares during the period. 70.57% of the stock is owned by institutional investors.

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. It operates in two segments, Bank and Investment Management. The company's deposit products include checking accounts, money market deposit accounts, and certificates of deposit, as well as promontory's certificate of deposit account registry services and insured cash sweep services.

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