Fly News Breaks for February 4, 2019
TSC
Feb 4, 2019 | 08:59 EDT
Maxim analyst Michael Diana lowered his price target on TriState Capital to $28 to reflect the lower peer group valuations and modeling a lower multiple of 14-times forward earnings vs. 15.5-times prior assumption for the stock. The analyst also keeps his Buy rating on TriState Capital after its latest Q4 earnings beat driven by "very strong growth in loans and deposits" albeit with a narrower net interest margin. Diana believes that investors are undervaluing the company's favorable capital position.
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