$ 64.27 million in expected sales for TriState Capital Holdings, Inc. (NASDAQ: TSC) this quarter
The brokerage firms predict that TriState Capital Holdings, Inc. (NASDAQ: TSC) will report sales of $ 64.27 million for the current quarter, Zacks reports. Two analysts have released earnings estimates for TriState Capital, with the highest sales estimate at $ 64.80 million and the lowest estimate at $ 63.75 million. TriState Capital reported sales of $ 50.07 million in the same quarter of last year, which would indicate a positive year-over-year growth rate of 28.4%. The company is expected to release its next quarterly results on Wednesday, January 26.
On average, analysts expect TriState Capital to report annual revenue of $ 235.72 million for the current fiscal year, with estimates ranging from $ 234.73 million to $ 236.70 million. of dollars. For the next fiscal year, analysts predict the company will post sales of $ 281.80 million, with estimates ranging from $ 278.00 million to $ 285.59 million. Zacks’ sales calculations are an average based on a survey of research analysts who cover TriState Capital.
TriState Capital (NASDAQ: TSC) last reported its results on Tuesday, October 19. The financial services provider reported earnings per share of $ 0.44 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.42 of $ 0.02. The company posted revenue of $ 60.90 million in the quarter, compared to a consensus estimate of $ 61.52 million. TriState Capital had a net margin of 24.58% and a return on equity of 11.15%. During the same period last year, the company made a profit of $ 0.26 per share.
Several research analysts recently published reports on the stock. Zacks Investment Research downgraded TriState Capital shares from a “buy” rating to a “hold” rating in a report released on Wednesday, October 27. TheStreet downgraded TriState Capital shares from a “c +” rating to a “b-” rating in a report released on Tuesday, October 19. Finally, B. Riley downgraded TriState Capital shares from a “buy” rating to a “neutral” rating and raised the target share price from $ 28.00 to $ 31.00 in a report. published on Friday, October 22. Four analysts gave the stock a conservation rating and one gave the company a strong buy rating. According to MarketBeat, the company currently has an average “Hold” rating and a consensus price target of $ 31.67.
The NASDAQ TSC opened at $ 29.63 on Friday. The company has a fifty-day simple moving average of $ 26.50 and a two-hundred-day simple moving average of $ 22.92. The stock has a market cap of $ 982.35 million, a P / E ratio of 18.87 and a beta of 2.18. TriState Capital has a 12-month low of $ 16.12 and a 12-month high of $ 31.24. The company has a current ratio of 0.94, a quick ratio of 0.94, and a debt to equity ratio of 0.56.
Meanwhile, CEO James F. Getz sold 3,586 shares of the company in a transaction dated Monday, November 1. The shares were sold at an average price of $ 30.05, for a total trade of $ 107,759.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 7.90% of the shares of the company.
Hedge funds recently changed their holdings in the company. Comerica Bank increased its stake in the shares of TriState Capital by 2.1% in the 3rd quarter. Comerica Bank now owns 124,772 shares of the financial services provider valued at $ 3,858,000 after acquiring an additional 2,565 shares during the period. BNP Paribas Arbitrage SA increased its stake in TriState Capital shares by 101.1% in the 3rd quarter. BNP Paribas Arbitrage SA now holds 8,275 shares of the financial services provider valued at $ 175,000 after having acquired 4,160 additional shares during the period. TownSquare Capital LLC purchased a new equity stake in TriState Capital during the third quarter valued at approximately $ 356,000. LPL Financial LLC increased its stake in the shares of TriState Capital by 12.2% in the 3rd quarter. LPL Financial LLC now owns 23,197 shares of the financial services provider valued at $ 491,000 after acquiring an additional 2,530 shares during the period. Finally, Citadel Advisors LLC increased its equity stake in TriState Capital by 56.2% in the 3rd quarter. Citadel Advisors LLC now owns 117,111 shares of the financial services provider valued at $ 2,477,000 after acquiring an additional 42,132 shares during the period. 84.64% of the shares are currently held by institutional investors.
About TriState Capital
TriState Capital Holdings, Inc is a banking holding company providing commercial banking, private banking and investment management services. It operates through the following segment: Banking and Investment Management, and Parent Company and Others. The Banking segment focuses on commercial banking products and services for mid-market companies and private banking products and services for high net worth individuals.
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