1st Source Co. (NASDAQ:SRCE) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its position in shares of 1st Source Co. (NASDAQ:SRCE) by 4.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 24,851 shares of the financial services provider’s stock after selling 1,115 shares during the quarter. Wells Fargo & Company MN owned about 0.10% of 1st Source worth $1,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank lifted its holdings in shares of 1st Source by 1.8% in the 2nd quarter. Swiss National Bank now owns 33,689 shares of the financial services provider’s stock valued at $1,563,000 after buying an additional 600 shares during the period. KBC Group NV acquired a new position in shares of 1st Source in the 2nd quarter valued at about $94,000. Bessemer Group Inc. lifted its holdings in shares of 1st Source by 38.8% in the 2nd quarter. Bessemer Group Inc. now owns 44,380 shares of the financial services provider’s stock valued at $2,059,000 after buying an additional 12,400 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of 1st Source in the 2nd quarter valued at about $226,000. Finally, Denali Advisors LLC lifted its holdings in shares of 1st Source by 1,066.7% in the 2nd quarter. Denali Advisors LLC now owns 700 shares of the financial services provider’s stock valued at $32,000 after buying an additional 640 shares during the period. 70.63% of the stock is owned by institutional investors.

Shares of SRCE stock traded down $0.89 on Tuesday, hitting $44.84. The company had a trading volume of 948 shares, compared to its average volume of 49,674. The firm has a market cap of $1.19 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.07. The company has a 50-day moving average price of $45.27 and a 200-day moving average price of $45.58. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.16. 1st Source Co. has a twelve month low of $38.44 and a twelve month high of $54.30.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. 1st Source had a return on equity of 11.22% and a net margin of 23.31%. The firm had revenue of $82.09 million during the quarter, compared to analyst estimates of $80.85 million. Equities research analysts expect that 1st Source Co. will post 3.53 EPS for the current year.

In other 1st Source news, Director John Afleck-Graves purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $44.34 per share, for a total transaction of $88,680.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $88,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.01% of the stock is owned by insiders.

Several equities analysts have recently issued reports on SRCE shares. Zacks Investment Research cut 1st Source from a “hold” rating to a “sell” rating in a report on Tuesday, September 24th. ValuEngine raised 1st Source from a “sell” rating to a “hold” rating in a report on Saturday, July 27th. Finally, BidaskClub raised 1st Source from a “sell” rating to a “hold” rating in a report on Thursday, September 12th.

About 1st Source

1st Source Corporation operates as the 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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