Tristate Capital (TSC) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Tristate Capital (NASDAQ:TSC) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. The firm currently has $25.00 target price on the financial services provider’s stock.

According to Zacks, “Tristate Capital Holdings, Inc. is a bank holding company for TriState Capital Bank. The company provides commercial and private banking services to middle market businesses, professionals and high net worth individuals. It offers deposit products, commercial and industrial loans as well as cash management services which consist of online balance reporting, online bill payment, remote deposit, liquidity services, wire and ACH services, foreign exchange, controlled disbursement services and capital market services. Tristate Capital Holdings, Inc. is headquartered in Pittsburgh, Pennsylvania. “

TSC has been the subject of a number of other research reports. BidaskClub downgraded Tristate Capital from a sell rating to a strong sell rating in a research report on Tuesday, March 12th. Maxim Group reiterated a buy rating and set a $28.00 price objective on shares of Tristate Capital in a research report on Sunday, April 21st. Stephens set a $25.00 price objective on Tristate Capital and gave the company a buy rating in a research report on Thursday, April 18th. Finally, Boenning Scattergood reiterated a hold rating on shares of Tristate Capital in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Tristate Capital has a consensus rating of Hold and an average target price of $28.25.

TSC opened at $21.49 on Wednesday. The company has a market capitalization of $637.58 million, a price-to-earnings ratio of 12.42, a PEG ratio of 0.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.03 and a quick ratio of 1.03. Tristate Capital has a 1-year low of $18.20 and a 1-year high of $30.10.

Tristate Capital (NASDAQ:TSC) last released 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. The firm had revenue of $43.82 million during the quarter, compared to the consensus estimate of $43.30 million. Tristate Capital had a return on equity of 12.91% and a net margin of 21.60%. On average, analysts predict that Tristate Capital will post 1.94 EPS for the current fiscal year.

In other news, CEO James F. Getz sold 6,250 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.50% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Tristate Capital by 5.5% in the first quarter. BlackRock Inc. now owns 4,066,071 shares of the financial services provider’s stock worth $83,070,000 after acquiring an additional 211,048 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tristate Capital by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,570,614 shares of the financial services provider’s stock worth $32,088,000 after acquiring an additional 111,921 shares during the last quarter. Banc Funds Co. LLC increased its stake in shares of Tristate Capital by 3.8% in the first quarter. Banc Funds Co. LLC now owns 1,345,066 shares of the financial services provider’s stock worth $27,480,000 after acquiring an additional 49,300 shares during the last quarter. Vanguard Group Inc increased its position in Tristate Capital by 1.5% during the third quarter. Vanguard Group Inc now owns 1,153,991 shares of the financial services provider’s stock worth $31,850,000 after buying an additional 17,290 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Tristate Capital by 1.5% during the third quarter. Vanguard Group Inc. now owns 1,153,991 shares of the financial services provider’s stock worth $31,850,000 after buying an additional 17,290 shares during the last quarter. 71.94% of the stock is currently owned by institutional investors and hedge funds.

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. 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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