NasdaqGS:TSC

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TriState Capital Holdings

Executive Summary

TriState Capital Holdings, Inc. operates as the bank holding company for TriState Capital Bank that provides various commercial and private banking services to middle-market businesses and high-net-worth individuals in the United States. More Details

Rewards

Trading at 2.4% below our estimate of its fair value

Earnings are forecast to grow 26.04% per year

Risk Analysis

No risks detected for TSC from our risk checks.


Snowflake Analysis

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has TriState Capital Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TSC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.8%

TSC

3.9%

US Banks

-0.4%

US Market


1 Year Return

-40.2%

TSC

-26.3%

US Banks

18.3%

US Market

Return vs Industry: TSC underperformed the US Banks industry which returned -26.3% over the past year.

Return vs Market: TSC underperformed the US Market which returned 18.3% over the past year.


Shareholder returns

TSCIndustryMarket
7 Day1.8%3.9%-0.4%
30 Day5.2%12.0%6.6%
90 Day5.3%5.4%8.6%
1 Year-40.2%-40.2%-23.6%-26.3%21.0%18.3%
3 Year-40.2%-40.2%-16.3%-23.3%42.1%32.7%
5 Year10.4%10.4%21.9%6.8%85.6%64.7%

Price Volatility Vs. Market

How volatile is TriState Capital Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is TriState Capital Holdings undervalued compared to its fair value and its price relative to the market?

2.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TSC ($13.8) is trading below our estimate of fair value ($14.13)

Significantly Below Fair Value: TSC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TSC is good value based on its PE Ratio (9.9x) compared to the US Banks industry average (10.2x).

PE vs Market: TSC is good value based on its PE Ratio (9.9x) compared to the US market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: TSC is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: TSC's PB Ratio (0.8x) is in line with the US Banks industry average.


Next Steps

Future Growth

How is TriState Capital Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

26.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TSC's forecast earnings growth (26% per year) is above the savings rate (2.2%).

Earnings vs Market: TSC's earnings (26% per year) are forecast to grow faster than the US market (22.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TSC's revenue (11.8% per year) is forecast to grow faster than the US market (9.9% per year).

High Growth Revenue: TSC's revenue (11.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TSC's Return on Equity is forecast to be low in 3 years time (8.2%).


Next Steps

Past Performance

How has TriState Capital Holdings performed over the past 5 years?

17.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TSC has high quality earnings.

Growing Profit Margin: TSC's current net profit margins (22.6%) are lower than last year (31.8%).


Past Earnings Growth Analysis

Earnings Trend: TSC's earnings have grown by 17.6% per year over the past 5 years.

Accelerating Growth: TSC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TSC had negative earnings growth (-30%) over the past year, making it difficult to compare to the Banks industry average (-3.2%).


Return on Equity

High ROE: TSC's Return on Equity (7.3%) is considered low.


Next Steps

Financial Health

How is TriState Capital Holdings's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: TSC's Assets to Equity ratio (14.8x) is moderate.

Allowance for Bad Loans: TSC has a sufficient allowance for bad loans (455%).

Low Risk Liabilities: 92% of TSC's liabilities are made up of primarily low risk sources of funding.

Loan Level: TSC has an appropriate level of Loans to Assets ratio (80%).

Low Risk Deposits: TSC's Loans to Deposits ratio (93%) is appropriate.

Level of Bad Loans: TSC has an appropriate level of bad loans (0.1%).


Next Steps

Dividend

What is TriState Capital Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TSC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TSC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TSC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TSC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TSC's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.5yrs

Average management tenure


CEO

Jim Getz (73 yo)

13.75yrs

Tenure

US$2,987,106

Compensation

Mr. James Francis Getz, also known as Jim, Co-founded Tristate Capital Holdings, Inc. in 2007 and has been its President and Chief Executive Officer since January 01, 2013 and January 2007 respectively. Mr ...


CEO Compensation Analysis

Compensation vs Market: Jim's total compensation ($USD2.99M) is above average for companies of similar size in the US market ($USD1.93M).

Compensation vs Earnings: Jim's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
James Getz
Chairman13.75yrsUS$2.99m4.85%
$ 20.0m
David Demas
Chief Financial Officer2.75yrsUS$1.11m0.27%
$ 1.1m
Brian Fetterolf
VP & Director3.25yrsUS$1.64m1.06%
$ 4.4m
Timothy Riddle
Managing Partner & CEO of Chartwell Investment Partners1.67yrsUS$829.30k0.91%
$ 3.7m
Thomas Groneman
Chief Credit Officerno datano datano data
James Hill
Senior Vice President of Commercial Lending - New Jersey Regional Office2.25yrsno datano data
James Bauerle
Secretaryno datano datano data

2.5yrs

Average Tenure

59yo

Average Age

Experienced Management: TSC's management team is considered experienced (2.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
James Getz
Chairman13.75yrsUS$2.99m4.85%
$ 20.0m
Brian Fetterolf
VP & Director3.25yrsUS$1.64m1.06%
$ 4.4m
John Yasinsky
Independent Director14.75yrsUS$140.79k0.15%
$ 627.7k
A. Schenck
Vice Chairman of the Boardno datano data0.37%
$ 1.5m
David Bonvenuto
Independent Director5yrsUS$137.79k0.072%
$ 295.5k
James Dolan
Independent Director14.75yrsUS$150.79k0.21%
$ 861.6k
Kim Ruth
Independent Director3.75yrsUS$133.79k0.057%
$ 234.5k
Eugene Dewhurst
Independent Director14.75yrsUS$147.79k0.10%
$ 431.8k
Audrey Dunning
Independent Director0.75yrno data0.021%
$ 88.5k
Helen Casey
Independent Directorno dataUS$133.79k0.28%
$ 1.1m
Anthony Buzzelli
Lead Independent Directorno dataUS$149.79k0.094%
$ 386.3k
Michael Harris
Independent Director0.25yrno data0.026%
$ 106.9k

5.0yrs

Average Tenure

68yo

Average Age

Experienced Board: TSC's board of directors are considered experienced (5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TSC insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

TriState Capital Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TriState Capital Holdings, Inc.
  • Ticker: TSC
  • Exchange: NasdaqGS
  • Founded: 2006
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$411.479m
  • Shares outstanding: 29.83m
  • Website: https://www.tristatecapitalbank.com

Number of Employees


Location

  • TriState Capital Holdings, Inc.
  • One Oxford Centre
  • Suite 2700
  • Pittsburgh
  • Pennsylvania
  • 15219
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TSCNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDMay 2013
3ZSDB (Deutsche Boerse AG)YesCommon StockDEEURMay 2013
TSCA.PNasdaqGS (Nasdaq Global Select)DEP SHS 1/40 INTUSUSDMar 2018
TSCB.PNasdaqGS (Nasdaq Global Select)6.375 DEP PFD BUSUSDMay 2019

Biography

TriState Capital Holdings, Inc. operates as the bank holding company for TriState Capital Bank that provides various commercial and private banking services to middle-market businesses and high-net-worth i ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/25 00:29
End of Day Share Price2020/10/23 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.