California State Teachers Retirement System boosted its position in TriState Capital Holdings Inc. (NASDAQ:TSC) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,994 shares of the financial services provider’s stock after buying an additional 952 shares during the period. California State Teachers Retirement System owned approximately 0.16% of TriState Capital Holdings worth $631,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in TriState Capital Holdings during the second quarter valued at approximately $150,000. Renaissance Technologies LLC boosted its stake in TriState Capital Holdings by 22.4% in the first quarter. Renaissance Technologies LLC now owns 185,500 shares of the financial services provider’s stock worth $2,337,000 after buying an additional 33,942 shares during the period. State Street Corp boosted its stake in TriState Capital Holdings by 7.8% in the first quarter. State Street Corp now owns 302,313 shares of the financial services provider’s stock worth $3,809,000 after buying an additional 21,787 shares during the period. Royce & Associates LP boosted its stake in TriState Capital Holdings by 2.2% in the first quarter. Royce & Associates LP now owns 511,552 shares of the financial services provider’s stock worth $6,446,000 after buying an additional 10,900 shares during the period. Finally, Mesirow Financial Investment Management US Value Equity acquired a new stake in TriState Capital Holdings during the first quarter worth $202,000. 56.86% of the stock is owned by institutional investors.
TriState Capital Holdings Inc. (NASDAQ:TSC) traded up 1.51% during mid-day trading on Wednesday, hitting $16.11. The stock had a trading volume of 14,512 shares. The stock has a market capitalization of $454.54 million, a P/E ratio of 18.52 and a beta of 0.24. The company’s 50 day moving average is $15.32 and its 200-day moving average is $13.84. TriState Capital Holdings Inc. has a 52 week low of $10.77 and a 52 week high of $16.28.
TriState Capital Holdings (NASDAQ:TSC) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. TriState Capital Holdings had a return on equity of 7.40% and a net margin of 19.08%. On average, analysts expect that TriState Capital Holdings Inc. will post $0.94 EPS for the current fiscal year.
TSC has been the topic of several recent research reports. Boenning Scattergood initiated coverage on TriState Capital Holdings in a research report on Wednesday. They set a “neutral” rating on the stock. Zacks Investment Research cut TriState Capital Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Finally, Maxim Group increased their price objective on TriState Capital Holdings from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $16.13.
In other news, Chairman James F. Getz sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $15.25, for a total value of $1,143,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard A. Zappala sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $15.57, for a total value of $77,850.00. Following the completion of the transaction, the director now owns 124,980 shares of the company’s stock, valued at $1,945,938.60. The disclosure for this sale can be found here. 23.50% of the stock is owned by company insiders.
About TriState Capital Holdings
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, Inc (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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