Sippican Capital Advisors increased its stake in Tristate Capital Holdings Inc (NASDAQ:TSC) by 33.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,185 shares of the financial services provider’s stock after acquiring an additional 12,279 shares during the period. Tristate Capital makes up approximately 1.2% of Sippican Capital Advisors’ investment portfolio, making the stock its 28th biggest position. Sippican Capital Advisors owned 0.17% of Tristate Capital worth $1,005,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in TSC. BlackRock Inc. boosted 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. Dimensional Fund Advisors LP grew its holdings in shares of Tristate Capital by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,458,693 shares of the financial services provider’s stock worth $28,386,000 after purchasing an additional 131,522 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tristate Capital by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,153,991 shares of the financial services provider’s stock worth $31,850,000 after purchasing an additional 17,290 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Tristate Capital by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 1,153,991 shares of the financial services provider’s stock worth $31,850,000 after purchasing an additional 17,290 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Tristate Capital by 7.5% during the 4th quarter. Royce & Associates LP now owns 829,050 shares of the financial services provider’s stock worth $16,133,000 after purchasing an additional 57,858 shares in the last quarter. Institutional investors and hedge funds own 70.57% of the company’s stock.
Several research firms have recently issued reports on TSC. Zacks Investment Research lowered Tristate Capital from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. BidaskClub upgraded Tristate Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Maxim Group restated a “buy” rating and set a $28.00 target price on shares of Tristate Capital in a research report on Friday, February 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $30.00.
TSC traded up $0.05 on Wednesday, hitting $22.15. The company had a trading volume of 358 shares, compared to its average volume of 123,899. Tristate Capital Holdings Inc has a 12-month low of $18.20 and a 12-month high of $30.10. The firm has a market cap of $639.58 million, a P/E ratio of 12.75, a P/E/G ratio of 0.95 and a beta of 1.08. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.
Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $41.11 million for the quarter, compared to the consensus estimate of $43.54 million. On average, research analysts forecast that Tristate Capital Holdings Inc will post 1.9 earnings per share for the current fiscal year.
In other news, CEO James F. Getz sold 6,250 shares of Tristate Capital stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $22.62, for a total value of $141,375.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard B. Seidel bought 2,500 shares of the stock in a transaction dated Friday, February 1st. The stock was purchased 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 $857,083.50. The disclosure for this purchase can be found here. Company insiders own 23.70% of the company’s stock.
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Tristate Capital 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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