Tristate Capital (NASDAQ:TSC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

Several other research analysts have also commented on TSC. ValuEngine raised shares of Tristate Capital from a “hold” rating to a “buy” rating 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. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $35.00 price objective on shares of Tristate Capital in a research note on Friday, July 20th. Stephens reissued a “buy” rating and issued a $28.00 price objective on shares of Tristate Capital in a research note on Thursday, July 19th. Finally, BidaskClub raised shares of Tristate Capital from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $31.60.

Shares of TSC traded down $0.26 during trading on Tuesday, reaching $23.53. 6,227 shares of the company traded hands, compared to its average volume of 320,868. Tristate Capital has a twelve month low of $21.90 and a twelve month high of $30.10. The stock has a market cap of $716.50 million, a PE ratio of 18.90, a P/E/G ratio of 1.20 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05.

Tristate Capital (NASDAQ:TSC) last announced its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Tristate Capital had a net margin of 22.52% and a return on equity of 11.63%. The business had revenue of $41.57 million during the quarter, compared to analysts’ expectations of $43.64 million. As a group, sell-side analysts expect that Tristate Capital will post 1.72 earnings per share for the current fiscal year.

In related news, Chairman James F. Getz sold 10,000 shares of Tristate Capital stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $29.77, for a total value of $297,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian S. Fetterolf purchased 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The stock was purchased at an average price of $24.27 per share, with a total value of $104,361.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 5,800 shares of company stock valued at $143,416. Insiders own 23.70% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System purchased a new position in Tristate Capital in the second quarter worth approximately $202,000. OMERS ADMINISTRATION Corp acquired a new stake in Tristate Capital during the second quarter worth approximately $222,000. Cornerstone Wealth Management LLC acquired a new stake in Tristate Capital during the second quarter worth approximately $229,000. Cubist Systematic Strategies LLC acquired a new stake in Tristate Capital during the second quarter worth approximately $230,000. Finally, Van Hulzen Asset Management LLC acquired a new stake in Tristate Capital during the second quarter worth approximately $239,000. Institutional investors own 66.06% of the company’s stock.

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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