New York State Common Retirement Fund Sells 2,074 Shares of 1st Source Co. (SRCE)

New York State Common Retirement Fund reduced its position in shares of 1st Source Co. (NASDAQ:SRCE) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,234 shares of the financial services provider’s stock after selling 2,074 shares during the period. New York State Common Retirement Fund owned about 0.09% of 1st Source worth $1,231,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SRCE. Russell Investments Group Ltd. acquired a new position in shares of 1st Source during the second quarter worth about $292,000. Schwab Charles Investment Management Inc. boosted its position in 1st Source by 0.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 134,582 shares of the financial services provider’s stock valued at $6,452,000 after purchasing an additional 949 shares during the last quarter. Legal & General Group Plc boosted its position in 1st Source by 3.7% during the second quarter. Legal & General Group Plc now owns 3,866 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 137 shares during the last quarter. Virginia Retirement Systems ET AL boosted its position in 1st Source by 146.7% during the second quarter. Virginia Retirement Systems ET AL now owns 11,100 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 6,600 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in 1st Source by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,133 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 620 shares during the last quarter. 70.33% of the stock is owned by institutional investors.

SRCE has been the subject of several recent research reports. BidaskClub cut 1st Source from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised 1st Source from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Tuesday, September 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $47.00 price target on shares of 1st Source in a research report on Tuesday, October 3rd. ValuEngine raised 1st Source from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, DA Davidson reissued a “hold” rating and set a $53.00 price target on shares of 1st Source in a research report on Monday, October 23rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.75.

Shares of 1st Source Co. (SRCE) opened at $49.56 on Thursday. 1st Source Co. has a 52-week low of $42.15 and a 52-week high of $53.29. The stock has a market capitalization of $1,282.54, a P/E ratio of 19.82, a PEG ratio of 1.72 and a beta of 1.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. 1st Source had a return on equity of 9.43% and a net margin of 21.74%. The company had revenue of $72.82 million during the quarter, compared to analysts’ expectations of $70.20 million. sell-side analysts anticipate that 1st Source Co. will post 2.59 EPS for the current year.

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1st Source 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.

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

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