1st Source Co. (NASDAQ:SRCE) Director Allison N. Egidi sold 8,500 shares of 1st Source stock in a transaction on Friday, March 9th. The stock was sold at an average price of $52.21, for a total value of $443,785.00. Following the completion of the sale, the director now directly owns 1,650 shares of the company’s stock, valued at approximately $86,146.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of 1st Source Co. (NASDAQ:SRCE) opened at $52.69 on Wednesday. 1st Source Co. has a fifty-two week low of $43.58 and a fifty-two week high of $54.65. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1,379.46, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.58 and a beta of 1.09.
1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). 1st Source had a net margin of 21.88% and a return on equity of 9.30%. The company had revenue of $74.49 million for the quarter, compared to the consensus estimate of $71.40 million. analysts forecast that 1st Source Co. will post 3.36 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in 1st Source by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 168,573 shares of the financial services provider’s stock valued at $8,335,000 after purchasing an additional 1,408 shares during the period. Public Employees Retirement System of Ohio grew its holdings in 1st Source by 25.1% during the second quarter. Public Employees Retirement System of Ohio now owns 7,538 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 1,511 shares during the period. Nordea Investment Management AB grew its holdings in 1st Source by 2.7% during the third quarter. Nordea Investment Management AB now owns 92,880 shares of the financial services provider’s stock valued at $4,718,000 after purchasing an additional 2,400 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in 1st Source by 2.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 141,806 shares of the financial services provider’s stock valued at $7,013,000 after purchasing an additional 2,715 shares during the period. Finally, Legal & General Group Plc grew its holdings in 1st Source by 71.3% during the third quarter. Legal & General Group Plc now owns 6,621 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 2,755 shares during the period. 71.14% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on SRCE shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $59.00 price objective on shares of 1st Source in a report on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $53.00 price objective on shares of 1st Source in a report on Friday, December 22nd. BidaskClub lowered 1st Source from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research lowered 1st Source from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. Finally, ValuEngine raised 1st Source from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. 1st Source currently has an average rating of “Buy” and a consensus price target of $56.25.
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About 1st Source
1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.
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