1st Source Co. (NASDAQ:SRCE) Director Allison N. Egidi sold 8,500 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $52.21, for a total transaction of $443,785.00. Following the transaction, the director now directly owns 1,650 shares of the company’s stock, valued at $86,146.50. The sale was disclosed in a document filed with the SEC, which is available through this link.
1st Source Co. (SRCE) traded down $0.23 during midday trading on Monday, hitting $52.92. 58,909 shares of the stock traded hands, compared to its average volume of 48,512. 1st Source Co. has a 1-year low of $43.58 and a 1-year high of $54.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $1,379.46, a price-to-earnings ratio of 20.36, a PEG ratio of 1.58 and a beta of 1.09.
1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.59 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 business had revenue of $74.49 million during the quarter, compared to analyst estimates of $71.40 million. equities research analysts expect that 1st Source Co. will post 3.36 earnings per share for the current year.
Several research firms have recently commented 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 for the company in a report on Wednesday, January 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $59.00 price target on shares of 1st Source in a report on Tuesday, January 9th. ValuEngine raised shares of 1st Source from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $53.00 price target on shares of 1st Source in a report on Friday, December 22nd. Finally, BidaskClub lowered shares of 1st Source from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $56.25.
A number of institutional investors have recently bought and sold shares of SRCE. Millennium Management LLC boosted its stake in 1st Source by 337.5% during the 4th quarter. Millennium Management LLC now owns 204,204 shares of the financial services provider’s stock valued at $10,098,000 after purchasing an additional 157,532 shares during the period. Deutsche Bank AG boosted its stake in 1st Source by 97.5% during the 4th quarter. Deutsche Bank AG now owns 45,496 shares of the financial services provider’s stock valued at $2,247,000 after purchasing an additional 22,455 shares during the period. Janus Henderson Group PLC boosted its stake in 1st Source by 5.7% during 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 purchasing an additional 21,502 shares during the period. BlackRock Inc. boosted its stake in 1st Source by 1.6% during the 4th quarter. BlackRock Inc. now owns 1,123,347 shares of the financial services provider’s stock valued at $55,549,000 after purchasing an additional 17,662 shares during the period. Finally, Chicago Equity Partners LLC boosted its stake in 1st Source by 112.6% during the 3rd quarter. Chicago Equity Partners LLC now owns 32,465 shares of the financial services provider’s stock valued at $1,649,000 after purchasing an additional 17,195 shares during the period. 71.14% of the stock is owned by hedge funds and other institutional investors.
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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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