1st Source (NASDAQ:SRCE) Stock Price Crosses Above Two Hundred Day Moving Average of $48.66

1st Source Co. (NASDAQ:SRCEGet Free Report)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $48.66 and traded as high as $49.51. 1st Source shares last traded at $48.74, with a volume of 71,878 shares trading hands.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their target price on shares of 1st Source from $52.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, January 22nd.

Check Out Our Latest Analysis on SRCE

1st Source Stock Performance

The company has a market cap of $1.19 billion, a P/E ratio of 9.69 and a beta of 0.79. The stock has a 50 day moving average price of $51.11 and a two-hundred day moving average price of $48.68. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

1st Source (NASDAQ:SRCEGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The financial services provider reported $1.16 earnings per share for the quarter. The firm had revenue of $91.41 million for the quarter, compared to analysts’ expectations of $91.20 million. 1st Source had a return on equity of 12.49% and a net margin of 24.61%. On average, research analysts predict that 1st Source Co. will post 4.5 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, February 2nd. 1st Source’s dividend payout ratio is currently 27.04%.

Insiders Place Their Bets

In related news, EVP Jeffrey L. Buhr sold 761 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $51.52, for a total value of $39,206.72. Following the completion of the sale, the executive vice president now directly owns 70,252 shares in the company, valued at $3,619,383.04. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in 1st Source by 21.7% during the fourth quarter. Vanguard Group Inc. now owns 1,024,823 shares of the financial services provider’s stock worth $56,314,000 after buying an additional 182,485 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of 1st Source by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 945,578 shares of the financial services provider’s stock worth $51,960,000 after acquiring an additional 39,514 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of 1st Source by 28.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,557 shares of the financial services provider’s stock worth $800,000 after acquiring an additional 3,227 shares in the last quarter. Barclays PLC increased its stake in 1st Source by 61.1% in the fourth quarter. Barclays PLC now owns 39,326 shares of the financial services provider’s stock valued at $2,160,000 after acquiring an additional 14,922 shares during the last quarter. Finally, Oberweis Asset Management Inc. raised its position in 1st Source by 7.3% during the fourth quarter. Oberweis Asset Management Inc. now owns 60,000 shares of the financial services provider’s stock valued at $3,297,000 after purchasing an additional 4,100 shares in the last quarter. Institutional investors own 73.52% of the company’s stock.

1st Source Company Profile

(Get Free Report)

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products 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 mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.

Further Reading

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