Equities research analysts predict that Tristate Capital Holdings Inc (NASDAQ:TSC) will report sales of $43.24 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Tristate Capital’s earnings. The highest sales estimate is $43.88 million and the lowest is $42.78 million. Tristate Capital reported sales of $37.35 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.8%. The firm is scheduled to announce its next earnings report on Wednesday, April 17th.
According to Zacks, analysts expect that Tristate Capital will report full-year sales of $184.62 million for the current year, with estimates ranging from $181.81 million to $186.68 million. For the next year, analysts anticipate that the business will report sales of $210.58 million, with estimates ranging from $203.03 million to $216.55 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Tristate Capital.
Tristate Capital (NASDAQ:TSC) last released its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. Tristate Capital had a net margin of 21.97% and a return on equity of 12.35%. The business had revenue of $41.11 million for the quarter, compared to analysts’ expectations of $43.54 million.
In related news, CEO James F. Getz sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $22.70, for a total value of $141,875.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard B. Seidel bought 2,500 shares of the business’s stock in a transaction on Friday, February 1st. The shares were acquired at an average price of $20.70 per share, for a total transaction of $51,750.00. Following the completion of the purchase, the director now owns 41,405 shares in the company, valued at approximately $857,083.50. The disclosure for this purchase can be found here. Corporate insiders own 23.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG increased its position in shares of Tristate Capital by 34.2% during the fourth quarter. Deutsche Bank AG now owns 95,351 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 24,288 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Tristate Capital in the 4th quarter valued at $1,421,000. Geode Capital Management LLC raised its holdings in shares of Tristate Capital by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 275,340 shares of the financial services provider’s stock valued at $5,358,000 after purchasing an additional 14,702 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Tristate Capital by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,458,693 shares of the financial services provider’s stock valued at $28,386,000 after purchasing an additional 131,522 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. raised its holdings 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 valued at $336,000 after purchasing an additional 1,212 shares in the last quarter. Institutional investors and hedge funds own 70.57% of the company’s stock.
Shares of NASDAQ:TSC traded up $0.40 during mid-day trading on Friday, hitting $20.83. 6,958 shares of the company traded hands, compared to its average volume of 169,135. The stock has a market cap of $598.43 million, a price-to-earnings ratio of 11.99, a PEG ratio of 0.89 and a beta of 1.08. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Tristate Capital has a 12-month low of $18.20 and a 12-month high of $30.10.
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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