1st Source (NASDAQ:SRCE) Shares Gap Down to $47.49


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Shares of 1st Source Co. (NASDAQ:SRCE) gapped down prior to trading on Thursday . The stock had previously closed at $47.49, but opened at $46.45. 1st Source shares last traded at $46.29, with a volume of 8 shares trading hands.

Separately, Zacks Investment Research cut 1st Source from a “buy” rating to a “hold” rating in a research note on Wednesday, March 31st.

The business has a 50 day moving average of $46.91 and a 200-day moving average of $40.07. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.21 billion, a P/E ratio of 15.55 and a beta of 1.15.

1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Wednesday, January 20th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.32. 1st Source had a return on equity of 8.68% and a net margin of 20.93%. The firm had revenue of $88.09 million during the quarter, compared to the consensus estimate of $82.70 million. On average, analysts anticipate that 1st Source Co. will post 2.86 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Tuesday, February 2nd were given a dividend of $0.29 per share. The ex-dividend date was Monday, February 1st. This represents a $1.16 dividend on an annualized basis and a yield of 2.51%. This is an increase from 1st Source’s previous quarterly dividend of $0.28. 1st Source’s dividend payout ratio is 32.49%.

In other 1st Source news, Director John T. Phair sold 3,085 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $47.76, for a total transaction of $147,339.60. Following the completion of the transaction, the director now owns 19,654 shares of the company’s stock, valued at approximately $938,675.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 20.22% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRCE. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of 1st Source in the 4th quarter valued at approximately $71,000. Great West Life Assurance Co. Can boosted its holdings in shares of 1st Source by 203.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,922 shares of the financial services provider’s stock valued at $89,000 after buying an additional 2,631 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of 1st Source by 90.6% in the 4th quarter. Citigroup Inc. now owns 4,028 shares of the financial services provider’s stock valued at $162,000 after buying an additional 1,915 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of 1st Source in the 4th quarter valued at approximately $163,000. Finally, Marshall Wace LLP acquired a new stake in shares of 1st Source in the 1st quarter valued at approximately $168,000. 70.35% of the stock is owned by institutional investors.

1st Source Company Profile (NASDAQ:SRCE)

1st Source Corporation operates as the holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory 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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