BNP Paribas Arbitrage SA decreased its position in shares of Tristate Capital Holdings Inc (NASDAQ:TSC) by 46.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,742 shares of the financial services provider’s stock after selling 2,364 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Tristate Capital were worth $59,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in 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 during the period. Bank of Montreal Can boosted its holdings in Tristate Capital by 14.4% during the 1st quarter. Bank of Montreal Can now owns 10,073 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 1,265 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Tristate Capital by 15.3% during the 1st quarter. SG Americas Securities LLC now owns 36,381 shares of the financial services provider’s stock worth $743,000 after acquiring an additional 4,830 shares during the last quarter. Quantamental Technologies LLC purchased a new position in Tristate Capital during the 1st quarter worth $41,000. Finally, Stephens Inc. AR boosted its holdings in Tristate Capital by 1.2% during the 1st quarter. Stephens Inc. AR now owns 204,359 shares of the financial services provider’s stock worth $4,175,000 after acquiring an additional 2,395 shares during the last quarter. Institutional investors own 71.06% of the company’s stock.
Shares of TSC traded up $0.59 during midday trading on Friday, hitting $22.38. 76,858 shares of the company traded hands, compared to its average volume of 111,473. Tristate Capital Holdings Inc has a one year low of $18.20 and a one year high of $29.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $622.29 million, a P/E ratio of 12.94, a PEG ratio of 0.96 and a beta of 1.08. The stock has a 50-day moving average of $19.97 and a 200-day moving average of $21.16.
Tristate Capital (NASDAQ:TSC) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The company had revenue of $43.28 million during the quarter, compared to analyst estimates of $45.35 million. Tristate Capital had a return on equity of 13.03% and a net margin of 20.29%. Sell-side analysts forecast that Tristate Capital Holdings Inc will post 1.84 EPS for the current fiscal year.
A number of research firms have issued reports on TSC. Boenning Scattergood reaffirmed a “hold” rating on shares of Tristate Capital in a report on Thursday, July 18th. ValuEngine raised shares of Tristate Capital from a “hold” rating to a “buy” rating in a report on Wednesday. BidaskClub raised shares of Tristate Capital from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research downgraded shares of Tristate Capital from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Finally, Stephens reissued a “buy” rating and issued a $25.00 price target on shares of Tristate Capital in a report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.50.
In other Tristate Capital news, Chairman James F. Getz bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average price of $19.41 per share, for a total transaction of $485,250.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James J. Dolan bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were acquired at an average price of $19.77 per share, with a total value of $98,850.00. Following the acquisition, the director now owns 4,000 shares of the company’s stock, valued at $79,080. The disclosure for this purchase can be found here. In the last three months, insiders have bought 61,662 shares of company stock valued at $1,216,163. Insiders own 17.50% of the company’s stock.
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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