Stephens Keeps a Buy Rating on Tristate Capital (TSC)

By Ryan Adsit

In a report released today, Matt Olney from Stephens maintained a Buy rating on Tristate Capital (TSCResearch Report), with a price target of $25. The company’s shares closed yesterday at $21.17.

Olney noted:

“We also find it unique that TSC is strategically focused (and compensated) on pre-tax income, EPS and revenue while most of other similar sized banks are focused on other profitability metrics such as efficiency ratio, ROA and ROTCE. With its recently completed capital raise, we believe TSC is well positioned to announce an EPS accretive acquisition of an asset manager while continuing to grow loan balances ~20% annualized. TSC is trading at 10.5x our updated EPS forecast and 1.59x tbv vs. small-cap peers at 12.0x and 1.78x tbv respectively. We maintain our Overweight rating and our $25 price target. Our updated EPS forecast primarily reflects the recent and pending capital actions. KEY Updating EPS Forecasts/NDR Highlights. This week, we hosted investor meetings with TSC and CFO David Demas.”

According to, Olney is a 1-star analyst with an average return of -0.6% and a 42.8% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tristate Capital with a $25 average price target.

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Tristate Capital’s market cap is currently $621.4M and has a P/E ratio of 10.93. The company has a Price to Book ratio of 1.36.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TSC in relation to earlier this year.

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TriState Capital Holdings, Inc. is a bank holding company, which engages in the provision of commercial banking, private banking, and investment management services to middle-market companies, institutional clients and high-net-worth individuals. It operates through Bank and Investment Mangement segments.