First Trust Advisors LP lessened its stake in 1st Source Co. (NASDAQ:SRCE) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,352 shares of the financial services provider’s stock after selling 13,792 shares during the quarter. First Trust Advisors LP owned approximately 0.24% of 1st Source worth $2,515,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in 1st Source in the 3rd quarter valued at $237,000. Ocean Capital Management LLC bought a new stake in 1st Source in the 4th quarter valued at $272,000. Dynamic Technology Lab Private Ltd bought a new stake in 1st Source in the 3rd quarter valued at $495,000. Victory Capital Management Inc. raised its stake in 1st Source by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 12,826 shares of the financial services provider’s stock valued at $517,000 after acquiring an additional 501 shares during the period. Finally, MetLife Investment Advisors LLC raised its stake in 1st Source by 56.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 11,931 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 4,286 shares during the period. 70.44% of the stock is owned by institutional investors.
SRCE opened at $47.08 on Friday. 1st Source Co. has a 1-year low of $38.44 and a 1-year high of $59.33. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.25 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.32 and a beta of 1.13.
1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). The business had revenue of $80.00 million during the quarter, compared to the consensus estimate of $78.90 million. 1st Source had a net margin of 23.26% and a return on equity of 11.06%. As a group, equities analysts expect that 1st Source Co. will post 3.53 earnings per share for the current year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded 1st Source from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. BidaskClub cut 1st Source from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 7th.
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.
Recommended Story: Derivative
Want to see what other hedge funds are holding SRCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 1st Source Co. (NASDAQ:SRCE).
Receive News & Ratings for 1st Source Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 1st Source and related companies with MarketBeat.com's FREE daily email newsletter.