Trading Report: The Bank of New York Mellon Corp Reduces Position in TriState Capital Holdings Inc. (TSC)

The Bank of New York Mellon Corp Reduces Position in TriState Capital Holdings Inc. (TSC)

Bank of New York Mellon Corp cut its position in shares of TriState Capital Holdings Inc. (NASDAQ:TSC) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 80,070 shares of the financial services provider’s stock after selling 308 shares during the period. Bank of New York Mellon Corp owned 0.28% of TriState Capital Holdings worth $1,100,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in TriState Capital Holdings during the second quarter worth $150,000. Royce & Associates LP raised 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 in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in TriState Capital Holdings by 4.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,535 shares of the financial services provider’s stock worth $133,000 after buying an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 56.86% of the company’s stock.

Shares of TriState Capital Holdings Inc. (NASDAQ:TSC) traded up 1.12% on Friday, reaching $16.28. 10,037 shares of the company were exchanged. The stock has a 50 day moving average of $15.67 and a 200-day moving average of $14.00. The company has a market capitalization of $459.34 million, a P/E ratio of 18.71 and a beta of 0.24. TriState Capital Holdings Inc. has a 52-week low of $10.77 and a 52-week high of $16.56.

TriState Capital Holdings (NASDAQ:TSC) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. TriState Capital Holdings had a net margin of 19.08% and a return on equity of 7.40%. On average, analysts predict that TriState Capital Holdings Inc. will post $0.94 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on TSC shares. Boenning Scattergood started coverage on TriState Capital Holdings in a research report on Wednesday, October 5th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded TriState Capital Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Finally, Maxim Group upped their price target 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $16.13.

In related news, Director Richard A. Zappala sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $15.57, for a total transaction of $77,850.00. Following the sale, the director now owns 124,980 shares of the company’s stock, valued at $1,945,938.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman James F. Getz sold 75,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $15.25, for a total transaction of $1,143,750.00. The disclosure for this sale can be found here. Insiders own 23.50% 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, 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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