Wall Street analysts expect Tristate Capital Holdings Inc (NASDAQ:TSC) to report earnings of $0.44 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Tristate Capital’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.40. Tristate Capital posted earnings of $0.47 per share in the same quarter last year, which would suggest a negative year over year growth rate of 6.4%. The firm is expected to announce its next quarterly earnings report on Wednesday, October 16th.
On average, analysts expect that Tristate Capital will report full-year earnings of $1.87 per share for the current year, with EPS estimates ranging from $1.78 to $1.91. For the next fiscal year, analysts forecast that the company will report earnings of $2.08 per share, with EPS estimates ranging from $1.95 to $2.14. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Tristate Capital.
Tristate Capital (NASDAQ:TSC) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.01. Tristate Capital had a return on equity of 13.26% and a net margin of 20.29%. The company had revenue of $43.28 million for the quarter, compared to analysts’ expectations of $45.35 million.
Several research analysts have recently commented on TSC shares. Maxim Group reissued a “buy” rating and set a $28.00 price objective on shares of Tristate Capital in a report on Sunday, April 21st. Zacks Investment Research lowered Hanger from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. Boenning Scattergood reissued a “hold” rating on shares of Tristate Capital in a research note on Thursday, July 18th. BidaskClub upgraded Xilinx from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Stephens restated a “buy” rating and set a $25.00 target price on shares of Tristate Capital in a report on Friday, June 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Tristate Capital has a consensus rating of “Hold” and an average target price of $26.00.
Shares of TSC traded up $0.43 during midday trading on Friday, hitting $21.06. 59,738 shares of the company traded hands, compared to its average volume of 117,743. The stock’s 50-day moving average is $20.91. Tristate Capital has a one year low of $18.20 and a one year high of $30.10. The firm has a market cap of $618.20 million, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.03.
In other Tristate Capital news, CFO David J. Demas acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average cost of $26.40 per share, for a total transaction of $26,400.00. Following the completion of the transaction, the chief financial officer now owns 45,462 shares of the company’s stock, valued at approximately $1,200,196.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Helen Hanna Casey acquired 20,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was acquired at an average price of $25.00 per share, with a total value of $500,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $500,000. The disclosure for this purchase can be found here. Insiders bought 26,000 shares of company stock worth $625,250 in the last ninety days. Corporate insiders own 17.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TSC. LPL Financial LLC increased its position in Tristate Capital by 3.5% during the fourth quarter. LPL Financial LLC now owns 15,254 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 515 shares during the period. BlackRock Inc. grew its stake in Tristate Capital by 21.1% during the fourth quarter. BlackRock Inc. now owns 3,855,023 shares of the financial services provider’s stock worth $75,019,000 after buying an additional 670,610 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Tristate Capital by 187.6% in the 4th quarter. Citigroup Inc. now owns 18,481 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 12,055 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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, Geode Capital Management LLC boosted its stake 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. Institutional investors and hedge funds own 71.67% of the company’s stock.
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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