Indiana Trust & Investment Management CO lessened its holdings in 1st Source Co. (NASDAQ:SRCE) by 40.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,751 shares of the financial services provider’s stock after selling 24,301 shares during the period. 1st Source makes up about 0.9% of Indiana Trust & Investment Management CO’s investment portfolio, making the stock its 27th largest position. Indiana Trust & Investment Management CO’s holdings in 1st Source were worth $1,701,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SRCE. Susquehanna International Group LLP purchased a new stake in 1st Source in the fourth quarter worth about $217,000. Norges Bank bought a new position in 1st Source in the fourth quarter worth about $10,135,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in 1st Source in the fourth quarter worth about $71,000. Principal Financial Group Inc. increased its holdings in shares of 1st Source by 15.1% during the fourth quarter. Principal Financial Group Inc. now owns 11,500 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 1,508 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of 1st Source during the fourth quarter valued at about $257,000. 70.35% of the stock is owned by institutional investors.
In other news, Director John T. Phair sold 3,085 shares of the 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 transaction, the director now owns 19,654 shares in the company, valued at approximately $938,675.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 20.22% of the company’s stock.
1st Source stock traded down $0.66 during mid-day trading on Thursday, hitting $45.99. The company had a trading volume of 658 shares, compared to its average volume of 83,058. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. 1st Source Co. has a 12-month low of $26.72 and a 12-month high of $50.38. The company’s fifty day moving average is $46.91 and its 200-day moving average is $40.07. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 15.41 and a beta of 1.15.
1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Wednesday, January 20th. The financial services provider reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.32. 1st Source had a return on equity of 8.68% and a net margin of 20.93%. The business had revenue of $88.09 million for the quarter, compared to analyst estimates of $82.70 million. As a group, sell-side analysts expect that 1st Source Co. will post 2.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Tuesday, February 2nd were given a dividend of $0.29 per share. This is a positive change from 1st Source’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, February 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.52%. 1st Source’s dividend payout ratio (DPR) is 32.49%.
Separately, Zacks Investment Research downgraded shares of 1st Source from a “buy” rating to a “hold” rating in a report on Wednesday, March 31st.
1st Source Company Profile
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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