Two Sigma Investments LP acquired a new position in 1st Source Co. (NASDAQ:SRCE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,233 shares of the financial services provider’s stock, valued at approximately $323,000.
A number of other large investors have also made changes to their positions in the company. FMR LLC boosted its stake in shares of 1st Source by 33.8% in the fourth quarter. FMR LLC now owns 220,360 shares of the financial services provider’s stock worth $9,841,000 after buying an additional 55,700 shares during the period. John W. Rosenthal Capital Management Inc. acquired a new stake in shares of 1st Source during the fourth quarter worth $2,233,000. Martingale Asset Management L P boosted its stake in shares of 1st Source by 70.2% in the fourth quarter. Martingale Asset Management L P now owns 96,972 shares of the financial services provider’s stock worth $4,331,000 after buying an additional 40,008 shares during the period. State Street Corp boosted its stake in shares of 1st Source by 10.1% in the fourth quarter. State Street Corp now owns 304,281 shares of the financial services provider’s stock worth $13,590,000 after buying an additional 27,935 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of 1st Source by 128.0% in the fourth quarter. Bessemer Group Inc. now owns 28,072 shares of the financial services provider’s stock worth $1,253,000 after buying an additional 15,762 shares during the period. Institutional investors and hedge funds own 64.38% of the company’s stock.
1st Source Co. (NASDAQ:SRCE) traded up 1.90% during midday trading on Thursday, hitting $45.52. 27,621 shares of the stock were exchanged. The firm’s 50 day moving average price is $46.17 and its 200 day moving average price is $42.38. The company has a market cap of $1.18 billion, a PE ratio of 20.53 and a beta of 1.01. 1st Source Co. has a 12 month low of $30.45 and a 12 month high of $49.11.
1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. 1st Source had a net margin of 20.59% and a return on equity of 8.75%. The firm had revenue of $65.74 million for the quarter, compared to analyst estimates of $65.80 million. On average, equities research analysts forecast that 1st Source Co. will post $2.39 earnings per share for the current fiscal year.
A number of research firms have recently commented on SRCE. Zacks Investment Research cut shares of 1st Source from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 8th. Piper Jaffray Companies began coverage on shares of 1st Source in a report on Thursday, January 12th. They set an “overweight” rating and a $47.00 price target on the stock.
1st Source Company Profile
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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