Nuveen Asset Management LLC lifted its position in shares of 1st Source Co. (NASDAQ:SRCE) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,014 shares of the financial services provider’s stock after purchasing an additional 4,554 shares during the period. Nuveen Asset Management LLC owned 0.40% of 1st Source worth $3,276,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its position in shares of 1st Source by 1.0% during the first quarter. Federated Hermes Inc. now owns 41,185 shares of the financial services provider’s stock valued at $1,335,000 after purchasing an additional 401 shares in the last quarter. Swiss National Bank lifted its position in shares of 1st Source by 1.8% during the fourth quarter. Swiss National Bank now owns 34,289 shares of the financial services provider’s stock valued at $1,779,000 after purchasing an additional 600 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of 1st Source by 42.3% during the fourth quarter. Meeder Asset Management Inc. now owns 2,533 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 753 shares in the last quarter. Marshall Wace LLP bought a new stake in 1st Source in the fourth quarter worth about $41,000. Finally, BNP Paribas Arbitrage SA raised its position in 1st Source by 26.1% in the first quarter. BNP Paribas Arbitrage SA now owns 4,364 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 902 shares during the period. 71.13% of the stock is currently owned by institutional investors.
In related news, Director Mark D. Schwabero purchased 1,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was acquired at an average price of $32.81 per share, with a total value of $32,810.00. Following the purchase, the director now directly owns 12,546 shares in the company, valued at $411,634.26. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 20.22% of the stock is owned by insiders.
SRCE stock opened at $34.73 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.94. 1st Source Co. has a one year low of $26.07 and a one year high of $53.42. The stock has a market cap of $839.36 million, a PE ratio of 10.34 and a beta of 1.12. The firm has a 50 day simple moving average of $33.40 and a two-hundred day simple moving average of $39.87.
1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.14). 1st Source had a return on equity of 10.25% and a net margin of 22.49%. The company had revenue of $79.47 million during the quarter, compared to analysts’ expectations of $78.30 million. On average, research analysts expect that 1st Source Co. will post 2.25 EPS for the current fiscal year.
SRCE has been the topic of several research reports. Zacks Investment Research lowered shares of 1st Source from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. ValuEngine upgraded shares of 1st Source from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. Finally, BidaskClub cut shares of 1st Source from a “sell” rating to a “strong sell” rating in a research note on Friday, May 8th.
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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