Tristate Capital Holdings Inc (TSC) Short Interest Update

Tristate Capital Holdings Inc (NASDAQ:TSC) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 1,177,278 shares, a growth of 28.5% from the July 13th total of 916,208 shares. Approximately 4.9% of the shares of the company are sold short. Based on an average daily volume of 194,626 shares, the short-interest ratio is currently 6.0 days.

Shares of TSC opened at $29.00 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64. Tristate Capital has a twelve month low of $20.30 and a twelve month high of $30.10. The stock has a market cap of $846.76 million, a price-to-earnings ratio of 23.39, a P/E/G ratio of 1.42 and a beta of 0.48.

Tristate Capital (NASDAQ:TSC) last issued its earnings results on Wednesday, July 18th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Tristate Capital had a net margin of 22.41% and a return on equity of 10.73%. The company had revenue of $41.29 million for the quarter, compared to analyst estimates of $40.72 million. equities analysts anticipate that Tristate Capital will post 1.72 EPS for the current year.

Several research analysts recently issued reports on TSC shares. ValuEngine raised shares of Tristate Capital from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Zacks Investment Research raised shares of Tristate Capital from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, July 24th. Maxim Group increased their price target on shares of Tristate Capital from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, July 20th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $35.00 price target on shares of Tristate Capital in a report on Friday, July 20th. Finally, Stephens reissued a “buy” rating and set a $28.00 price target on shares of Tristate Capital in a report on Thursday, July 19th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Tristate Capital currently has an average rating of “Buy” and an average target price of $30.80.

In related news, major shareholder Lovell Minnick Partners Llc sold 2,200,000 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $25.71, for a total transaction of $56,562,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Yasinsky sold 6,000 shares of the stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $26.50, for a total transaction of $159,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $318,000. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 2,108 shares of company stock valued at $53,907 and have sold 4,406,000 shares valued at $113,283,000. Corporate insiders own 23.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Wealth Management LLC acquired a new position in Tristate Capital during the second quarter worth about $229,000. OMERS ADMINISTRATION Corp acquired a new position in Tristate Capital during the second quarter worth about $222,000. Van Hulzen Asset Management LLC acquired a new position in Tristate Capital during the second quarter worth about $239,000. BW Gestao de Investimentos Ltda. acquired a new position in Tristate Capital during the first quarter worth about $223,000. Finally, MetLife Investment Advisors LLC acquired a new position in Tristate Capital during the fourth quarter worth about $263,000. Institutional investors own 60.77% 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. The company operates in two segments, Bank and Investment Management.

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