Stratos Wealth Partners LTD. purchased a new position in TriState Capital Holdings, Inc. (NASDAQ:TSC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,100 shares of the financial services provider’s stock, valued at approximately $255,000.
Other institutional investors also recently modified their holdings of the company. Elk Creek Partners LLC bought a new position in shares of TriState Capital Holdings during the first quarter worth $5,749,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of TriState Capital Holdings during the second quarter worth $4,884,000. Hodges Capital Management Inc. bought a new position in shares of TriState Capital Holdings during the first quarter worth $3,528,000. Dimensional Fund Advisors LP boosted its position in shares of TriState Capital Holdings by 15.5% in the first quarter. Dimensional Fund Advisors LP now owns 691,968 shares of the financial services provider’s stock worth $16,158,000 after buying an additional 93,029 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of TriState Capital Holdings by 9.5% in the first quarter. Vanguard Group Inc. now owns 882,788 shares of the financial services provider’s stock worth $20,614,000 after buying an additional 76,234 shares in the last quarter. 57.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TriState Capital Holdings, Inc. (NASDAQ:TSC) opened at 21.75 on Friday. TriState Capital Holdings, Inc. has a 12 month low of $14.10 and a 12 month high of $26.30. The firm has a market capitalization of $623.46 million, a price-to-earnings ratio of 19.61 and a beta of 0.28. The firm’s 50-day moving average price is $23.95 and its 200-day moving average price is $23.76.
TriState Capital Holdings (NASDAQ:TSC) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $33.75 million during the quarter, compared to the consensus estimate of $35.27 million. TriState Capital Holdings had a return on equity of 8.98% and a net margin of 19.80%. On average, equities analysts anticipate that TriState Capital Holdings, Inc. will post $1.19 earnings per share for the current year.
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TSC has been the topic of a number of analyst reports. Zacks Investment Research raised TriState Capital Holdings from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, June 22nd. ValuEngine raised TriState Capital Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Stephens reissued a “buy” rating and issued a $30.00 price target on shares of TriState Capital Holdings in a research note on Thursday, July 20th. Maxim Group lifted their price target on TriState Capital Holdings from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, April 21st. Finally, BidaskClub cut TriState Capital Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. TriState Capital Holdings presently has a consensus rating of “Hold” and a consensus target price of $28.50.
In related news, CEO James F. Getz sold 15,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $25.00, for a total value of $375,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman James F. Getz sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $25.06, for a total value of $501,200.00. The disclosure for this sale can be found here. Corporate insiders own 23.40% of the company’s stock.
TriState Capital Holdings Company Profile
TriState Capital Holdings, Inc is a bank holding company. The Company’s subsidiaries include TriState Capital Bank (the Bank), a Pennsylvania chartered bank; Chartwell Investment Partners, LLC (Chartwell), an investment advisor, and Chartwell TSC Securities Corp. (CTSC Securities). The Company operates through two segments: Bank and Investment Management.
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