TriState Capital Holdings, Inc. (TSC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in shares of TriState Capital Holdings, Inc. (NASDAQ:TSC) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,119 shares of the financial services provider’s stock after selling 288 shares during the period. Legal & General Group Plc’s holdings in TriState Capital Holdings were worth $120,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of TriState Capital Holdings during the first quarter valued at $207,000. Alliancebernstein L.P. bought a new position in TriState Capital Holdings during the first quarter valued at approximately $219,000. Janney Montgomery Scott LLC bought a new position in TriState Capital Holdings during the first quarter valued at approximately $234,000. Vident Investment Advisory LLC bought a new position in TriState Capital Holdings during the first quarter valued at approximately $299,000. Finally, American International Group Inc. raised its position in TriState Capital Holdings by 7.2% in the first quarter. American International Group Inc. now owns 13,513 shares of the financial services provider’s stock valued at $316,000 after buying an additional 902 shares during the period. 57.35% of the stock is owned by hedge funds and other institutional investors.

TriState Capital Holdings, Inc. (NASDAQ:TSC) traded down 0.95% during trading on Friday, hitting $20.85. The stock had a trading volume of 37,706 shares. TriState Capital Holdings, Inc. has a 52 week low of $14.10 and a 52 week high of $26.30. The stock has a 50-day moving average price of $23.61 and a 200-day moving average price of $23.74. The company has a market cap of $597.67 million, a PE ratio of 18.80 and a beta of 0.28.

TriState Capital Holdings (NASDAQ:TSC) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. TriState Capital Holdings had a net margin of 19.80% and a return on equity of 8.98%. The firm had revenue of $33.75 million during the quarter, compared to analyst estimates of $35.27 million. Equities analysts predict that TriState Capital Holdings, Inc. will post $1.19 EPS for the current year.

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Several research firms have recently commented on TSC. ValuEngine raised TriState Capital Holdings from a “hold” rating to a “buy” rating in a report on Thursday, July 20th. BidaskClub lowered TriState Capital Holdings from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Zacks Investment Research raised TriState Capital Holdings from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Tuesday, April 25th. Stephens reaffirmed a “buy” rating and set a $30.00 target price on shares of TriState Capital Holdings in a report on Thursday, July 20th. Finally, Maxim Group upped their target price on TriState Capital Holdings from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, April 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.50.

In related news, insider Brian S. Fetterolf purchased 3,250 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $21.83 per share, with a total value of $70,947.50. Following the completion of the acquisition, the insider now directly owns 85,090 shares in the company, valued at approximately $1,857,514.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James F. Getz sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $25.06, for a total transaction of $501,200.00. The disclosure for this sale can be found here. Company 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.