TriState Capital Holdings, Inc. (NASDAQ:TSC) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 753,700 shares, a growth of 19.5% from the November 30th total of 630,900 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily volume of 466,300 shares, the short-interest ratio is presently 1.6 days.
Shares of TriState Capital stock opened at $32.35 on Friday. The firm has a market capitalization of $1.07 billion, a PE ratio of 20.61 and a beta of 2.16. TriState Capital has a twelve month low of $17.16 and a twelve month high of $32.44. The firm's 50-day moving average price is $30.15 and its 200 day moving average price is $24.04. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.56.
TriState Capital (NASDAQ:TSC) last released its earnings results on Tuesday, October 19th. The financial services provider reported $0.44 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.42 by $0.02. TriState Capital had a net margin of 24.58% and a return on equity of 11.15%. The business had revenue of $60.90 million for the quarter, compared to analyst estimates of $61.52 million. During the same period last year, the company posted $0.26 EPS. On average, sell-side analysts predict that TriState Capital will post 1.61 EPS for the current fiscal year.
TSC has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of TriState Capital from a "buy" rating to a "hold" rating in a research note on Wednesday, October 27th. B. Riley lowered shares of TriState Capital from a "buy" rating to a "neutral" rating and increased their target price for the stock from $28.00 to $31.00 in a research note on Friday, October 22nd. Finally, TheStreet raised shares of TriState Capital from a "c+" rating to a "b-" rating in a research note on Tuesday, October 19th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $31.67.
In other TriState Capital news, CEO James F. Getz sold 3,586 shares of the stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $30.05, for a total transaction of $107,759.30. The sale was disclosed in a filing with the SEC, which is available through this link. 7.90% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank lifted its stake in TriState Capital by 2.1% in the 3rd quarter. Comerica Bank now owns 124,772 shares of the financial services provider's stock worth $3,858,000 after purchasing an additional 2,565 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in TriState Capital by 101.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,275 shares of the financial services provider's stock worth $175,000 after purchasing an additional 4,160 shares in the last quarter. TownSquare Capital LLC purchased a new position in TriState Capital in the 3rd quarter worth approximately $356,000. LPL Financial LLC lifted its stake in TriState Capital by 12.2% in the 3rd quarter. LPL Financial LLC now owns 23,197 shares of the financial services provider's stock worth $491,000 after purchasing an additional 2,530 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in TriState Capital by 56.2% in the 3rd quarter. Citadel Advisors LLC now owns 117,111 shares of the financial services provider's stock worth $2,477,000 after purchasing an additional 42,132 shares in the last quarter. 84.64% of the stock is currently owned by institutional investors and hedge funds.
About TriState Capital
TriState Capital Holdings, Inc is bank holding company, which provides commercial banking, private banking, and investment management services. It operates through the following segment: Bank, and Investment Management, and Parent and Other. The Bank segment focuses in commercial banking products and services to middle-market businesses and private banking products and services to high-net-worth individuals.
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