Millennium Management LLC Purchases 157,532 Shares of 1st Source (SRCE)

Millennium Management LLC raised its position in 1st Source (NASDAQ:SRCE) by 337.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 204,204 shares of the financial services provider’s stock after buying an additional 157,532 shares during the quarter. Millennium Management LLC’s holdings in 1st Source were worth $10,098,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SRCE. Deutsche Bank AG increased its stake in 1st Source by 97.5% in the 4th quarter. Deutsche Bank AG now owns 45,496 shares of the financial services provider’s stock valued at $2,247,000 after buying an additional 22,455 shares during the period. Janus Henderson Group PLC increased its stake in 1st Source by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 401,064 shares of the financial services provider’s stock valued at $20,374,000 after buying an additional 21,502 shares during the period. BlackRock Inc. grew its stake in shares of 1st Source by 1.6% during the 4th quarter. BlackRock Inc. now owns 1,123,347 shares of the financial services provider’s stock worth $55,549,000 after purchasing an additional 17,662 shares during the period. First Trust Advisors LP grew its stake in shares of 1st Source by 27.5% during the 4th quarter. First Trust Advisors LP now owns 72,577 shares of the financial services provider’s stock worth $3,589,000 after purchasing an additional 15,655 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of 1st Source during the 4th quarter worth $310,000. 68.60% of the stock is currently owned by institutional investors.

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A number of research firms have recently weighed in on SRCE. Zacks Investment Research raised shares of 1st Source from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, January 24th. ValuEngine raised shares of 1st Source from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $53.00 price target on shares of 1st Source in a research note on Friday, December 22nd. BidaskClub raised shares of 1st Source from a “hold” rating to a “buy” rating in a research note on Wednesday, March 21st. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $59.00 price target on shares of 1st Source in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.25.

In related news, Director Allison N. Egidi sold 8,500 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $52.21, for a total value of $443,785.00. Following 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 filing with the SEC, which is available through this hyperlink. Corporate insiders own 19.92% of the company’s stock.

NASDAQ:SRCE opened at $50.54 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.93. 1st Source has a fifty-two week low of $43.58 and a fifty-two week high of $54.65. The firm has a market cap of $1,359.02, a PE ratio of 20.22, a P/E/G ratio of 1.51 and a beta of 1.08.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.07). 1st Source had a return on equity of 9.30% and a net margin of 21.88%. The company had revenue of $74.49 million for the quarter, compared to analyst estimates of $71.40 million. equities research analysts expect that 1st Source will post 3.36 earnings per share for the current fiscal year.

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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 investment management services, and insurance 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 loans, and lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.

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Institutional Ownership by Quarter for 1st Source (NASDAQ:SRCE)

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