1st Source Co. (NASDAQ:SRCE) Director Allison N. Egidi sold 8,500 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 1,650 shares in the company, valued at $86,146.50. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of 1st Source Co. (NASDAQ:SRCE) opened at $52.92 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1,370.00, a price-to-earnings ratio of 21.17, a PEG ratio of 1.58 and a beta of 1.09. 1st Source Co. has a 52-week low of $43.58 and a 52-week high of $54.00.
1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). The company had revenue of $74.49 million for the quarter, compared to analysts’ expectations of $71.40 million. 1st Source had a net margin of 21.88% and a return on equity of 9.30%. sell-side analysts expect that 1st Source Co. will post 3.36 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of SRCE. Royal Bank of Canada raised its position in shares of 1st Source by 598.4% during the 2nd quarter. Royal Bank of Canada now owns 4,281 shares of the financial services provider’s stock valued at $205,000 after buying an additional 3,668 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of 1st Source during the 3rd quarter valued at $212,000. Xact Kapitalforvaltning AB purchased a new stake in shares of 1st Source during the 4th quarter valued at $220,000. GSA Capital Partners LLP purchased a new stake in shares of 1st Source during the 3rd quarter valued at $230,000. Finally, SG Americas Securities LLC purchased a new stake in shares of 1st Source during the 3rd quarter valued at $274,000. Hedge funds and other institutional investors own 71.14% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of 1st Source from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, January 24th. ValuEngine upgraded shares of 1st Source from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub cut shares of 1st Source from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $53.00 price objective on shares of 1st Source in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $59.00 price objective on shares of 1st Source in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price 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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