Dimensional Fund Advisors LP Sells 11,079 Shares of 1st Source Corporation (SRCE)
Dimensional Fund Advisors LP trimmed its stake in shares of 1st Source Corporation (NASDAQ:SRCE) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,201,338 shares of the financial services provider’s stock after selling 11,079 shares during the quarter. Dimensional Fund Advisors LP owned about 8.49% of 1st Source Corporation worth $105,533,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of 1st Source Corporation by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 118,020 shares of the financial services provider’s stock worth $5,541,000 after purchasing an additional 6,974 shares during the last quarter. Karp Capital Management Corp acquired a new position in 1st Source Corporation during the 1st quarter valued at approximately $206,000. Ameriprise Financial Inc. boosted its position in 1st Source Corporation by 26.5% during the 1st quarter. Ameriprise Financial Inc. now owns 16,844 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 3,533 shares during the period. Virginia Retirement Systems ET AL acquired a new position in 1st Source Corporation during the 1st quarter valued at approximately $211,000. Finally, American International Group Inc. boosted its position in 1st Source Corporation by 7.3% during the 1st quarter. American International Group Inc. now owns 9,652 shares of the financial services provider’s stock valued at $453,000 after purchasing an additional 654 shares during the period. Institutional investors and hedge funds own 70.22% of the company’s stock.
Shares of 1st Source Corporation (NASDAQ:SRCE) opened at 51.59 on Tuesday. The firm has a 50 day moving average of $47.38 and a 200 day moving average of $47.46. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 21.58 and a beta of 1.07. 1st Source Corporation has a 52 week low of $33.27 and a 52 week high of $51.80.
1st Source Corporation (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. The firm had revenue of $70.00 million during the quarter, compared to analyst estimates of $68.90 million. 1st Source Corporation had a return on equity of 9.14% and a net margin of 21.41%. Equities analysts predict that 1st Source Corporation will post $2.59 earnings per share for the current fiscal year.
A number of research analysts recently commented on the company. Zacks Investment Research lowered 1st Source Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, September 16th. Piper Jaffray Companies set a $55.00 target price on 1st Source Corporation and gave the company a “buy” rating in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $47.00 price target on shares of 1st Source Corporation in a report on Sunday, July 23rd. ValuEngine raised shares of 1st Source Corporation from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Finally, BidaskClub lowered shares of 1st Source Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $51.67.
1st Source Corporation 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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