BTIM Corp. Lowers Holdings in 1st Source Co. (SRCE)

BTIM Corp. trimmed its position in 1st Source Co. (NASDAQ:SRCE) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,009 shares of the financial services provider’s stock after selling 14,452 shares during the quarter. BTIM Corp.’s holdings in 1st Source were worth $9,682,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of 1st Source by 0.8% during the 3rd quarter. BlackRock Inc. now owns 1,159,343 shares of the financial services provider’s stock worth $61,005,000 after purchasing an additional 9,408 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of 1st Source by 2.9% during the 3rd quarter. Vanguard Group Inc now owns 713,841 shares of the financial services provider’s stock worth $37,562,000 after purchasing an additional 20,326 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of 1st Source by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 713,841 shares of the financial services provider’s stock worth $37,562,000 after purchasing an additional 20,326 shares during the last quarter. Northern Trust Corp lifted its stake in shares of 1st Source by 1.0% during the 2nd quarter. Northern Trust Corp now owns 262,567 shares of the financial services provider’s stock worth $14,028,000 after purchasing an additional 2,557 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of 1st Source by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 243,772 shares of the financial services provider’s stock worth $12,828,000 after purchasing an additional 1,177 shares during the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.

A number of equities research analysts recently weighed in on SRCE shares. Zacks Investment Research upgraded 1st Source from a “sell” rating to a “hold” rating in a research note on Wednesday, December 26th. ValuEngine upgraded 1st Source from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. Finally, BidaskClub upgraded 1st Source from a “strong sell” rating to a “sell” rating in a research note on Monday, January 7th.

Shares of NASDAQ SRCE opened at $45.11 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market cap of $1.15 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.24 and a beta of 1.12. 1st Source Co. has a 1-year low of $38.44 and a 1-year high of $59.33.

1st Source (NASDAQ:SRCE) last announced its earnings results on Thursday, October 18th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.13). 1st Source had a net margin of 22.98% and a return on equity of 10.41%. The business had revenue of $78.42 million for the quarter, compared to analyst estimates of $78.50 million. As a group, equities analysts forecast that 1st Source Co. will post 3.2 EPS for the current fiscal year.

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1st Source Profile

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.

Read More: Net Income

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Institutional Ownership by Quarter for 1st Source (NASDAQ:SRCE)

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