Equity researchers at StockNews.com initiated a hedge on the shares of Capital of the three States (NASDAQ: TSC – Get a rating) in a note released Sunday to investors. The brokerage has set a “sell” rating on the shares of the financial services provider.
The company has a debt ratio of 0.72, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $1.03 billion, a P/E ratio of 16.53 and a beta of 1.94. The stock has a fifty-day moving average price of $31.07 and a 200-day moving average price of $31.26. TriState Capital has a 1-year low of $18.35 and a 1-year high of $34.87.
Capital of the three States (NASDAQ: TSC – Get a rating) last reported results on Wednesday, April 27. The financial services provider reported earnings per share (EPS) of $0.48 for the quarter, beating consensus analyst estimates of $0.42 by $0.06. The company posted revenue of $68.70 million in the quarter, compared to $65.48 million expected by analysts. TriState Capital had a net margin of 27.20% and a return on equity of 13.05%. As a group, research analysts predict that TriState Capital will post 2 earnings per share for the current fiscal year.
Several large investors have recently changed their holdings in TSC. Bank of America Corp DE increased its position in TriState Capital by 101.0% in Q1. Bank of America Corp DE now owns 208,353 shares of the financial services provider worth $6,922,000 after buying an additional 104,700 shares last quarter. Verition Fund Management LLC increased its position in TriState Capital by 4.0% during the 1st quarter. Verition Fund Management LLC now owns 353,976 shares of the financial services provider valued at $11,763,000 after purchasing an additional 13,768 shares during the period. Walleye Capital LLC increased its position in TriState Capital by 91.6% during the 1st quarter. Walleye Capital LLC now owns 102,871 shares of the financial services provider valued at $3,418,000 after purchasing an additional 49,171 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in TriState Capital during Q1 worth approximately $1,615,000. Finally, Walleye Trading LLC acquired a new position in TriState Capital during Q1 worth approximately $415,000. Institutional investors hold 76.34% of the company’s shares.
TriState Capital Company Profile (Get a rating)
TriState Capital Holdings, Inc. operates as a bank holding company for TriState Capital Bank which provides various commercial and private banking services to middle market businesses and high net worth individuals in the United States. The Company operates through two segments, banking and investment management.
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