NEW YORK (TheStreet) -- Tristate Capital (TSC) shares cratered -25% to $10.17 on Thursday after being downgraded to "neutral" from "outperform" by analysts at Robert Baird, who lowered its price target to $14 from $16.
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TheStreet Ratings team rates TRISTATE CAPITAL HLDGS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRISTATE CAPITAL HLDGS INC (TSC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The revenue growth came in higher than the industry average of 5.1%. Since the same quarter one year prior, revenues rose by 18.8%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- TRISTATE CAPITAL HLDGS INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This year, the market expects an improvement in earnings ($0.71 versus $0.43).
- In its most recent trading session, TSC has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors.
- Net operating cash flow has significantly decreased to -$0.03 million or 100.74% when compared to the same quarter last year. In conjunction, when comparing current results to the industry average, TRISTATE CAPITAL HLDGS INC has marginally lower results.
- You can view the full analysis from the report here: TSC Ratings Report