Harbour Trust & Investment Management Co Acquires New Holdings in 1st Source Co. (NASDAQ:SRCE)

Harbour Trust & Investment Management Co acquired a new stake in 1st Source Co. (NASDAQ:SRCE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,959 shares of the financial services provider’s stock, valued at approximately $218,000.

A number of other large investors have also added to or reduced their stakes in SRCE. Lazard Asset Management LLC acquired a new stake in 1st Source during the 4th quarter valued at approximately $29,000. Osaic Holdings Inc. increased its position in 1st Source by 58.4% during the 2nd quarter. Osaic Holdings Inc. now owns 998 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 368 shares during the period. Tower Research Capital LLC TRC increased its position in 1st Source by 176.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,508 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 962 shares during the period. Point72 Middle East FZE acquired a new stake in 1st Source during the 2nd quarter valued at approximately $88,000. Finally, Citigroup Inc. increased its position in 1st Source by 297.2% during the 1st quarter. Citigroup Inc. now owns 2,554 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 1,911 shares during the period. Institutional investors own 74.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price objective on shares of 1st Source from $52.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, January 22nd.

Insider Activity at 1st Source

In other 1st Source news, EVP Jeffrey L. Buhr sold 761 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $51.52, for a total transaction of $39,206.72. Following the transaction, the executive vice president now directly owns 70,252 shares in the company, valued at approximately $3,619,383.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.30% of the stock is currently owned by insiders.

1st Source Trading Down 3.2 %

Shares of SRCE stock traded down $1.64 during trading hours on Wednesday, hitting $49.46. 3,588 shares of the company were exchanged, compared to its average volume of 63,819. The company has a 50 day simple moving average of $50.56 and a two-hundred day simple moving average of $49.46. 1st Source Co. has a fifty-two week low of $38.77 and a fifty-two week high of $56.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $1.21 billion, a P/E ratio of 10.16 and a beta of 0.79.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter. 1st Source had a net margin of 24.61% and a return on equity of 12.49%. The business had revenue of $91.41 million during the quarter, compared to the consensus estimate of $91.20 million. Equities analysts anticipate that 1st Source Co. will post 4.71 EPS for the current year.

1st Source Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, February 2nd. 1st Source’s payout ratio is currently 27.04%.

About 1st Source

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products to individual and business clients. Its consumer banking services include checking and savings accounts; certificates of deposit; individual retirement accounts; online and mobile banking products; consumer loans, real estate mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.