United Services Automobile Association Takes Position in 1st Source Corporation (SRCE)
United Services Automobile Association purchased a new position in shares of 1st Source Corporation (NASDAQ:SRCE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 85,313 shares of the financial services provider’s stock, valued at approximately $4,005,000. United Services Automobile Association owned approximately 0.33% of 1st Source Corporation at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. American International Group Inc. increased its position in 1st Source Corporation by 7.3% in the first quarter. American International Group Inc. now owns 9,652 shares of the financial services provider’s stock worth $453,000 after buying an additional 654 shares during the period. Reinhart Partners Inc. increased its position in 1st Source Corporation by 1.0% in the first quarter. Reinhart Partners Inc. now owns 76,978 shares of the financial services provider’s stock worth $3,614,000 after buying an additional 776 shares during the period. Renaissance Technologies LLC increased its position in 1st Source Corporation by 0.8% in the fourth quarter. Renaissance Technologies LLC now owns 97,340 shares of the financial services provider’s stock worth $4,347,000 after buying an additional 800 shares during the period. Teachers Advisors LLC increased its position in 1st Source Corporation by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 25,984 shares of the financial services provider’s stock worth $1,160,000 after buying an additional 880 shares during the period. Finally, Ameriprise Financial Inc. increased its position in 1st Source Corporation by 26.5% in the first quarter. Ameriprise Financial Inc. now owns 16,844 shares of the financial services provider’s stock worth $790,000 after buying an additional 3,533 shares during the period. Institutional investors and hedge funds own 69.64% of the company’s stock.
1st Source Corporation (NASDAQ:SRCE) traded up 0.43% during trading on Friday, hitting $49.00. 107,302 shares of the company’s stock traded hands. The company’s 50 day moving average is $47.35 and its 200-day moving average is $45.72. The stock has a market cap of $1.27 billion, a P/E ratio of 21.21 and a beta of 1.04. 1st Source Corporation has a 12 month low of $30.45 and a 12 month high of $50.78.
1st Source Corporation (NASDAQ:SRCE) last posted its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. 1st Source Corporation had a net margin of 21.12% and a return on equity of 8.95%. The firm had revenue of $67.03 million for the quarter, compared to analysts’ expectations of $67 million. On average, analysts predict that 1st Source Corporation will post $2.51 earnings per share for the current year.
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A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded 1st Source Corporation from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Tuesday, June 6th. BidaskClub upgraded 1st Source Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, ValuEngine upgraded 1st Source Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $45.00.
1st Source Corporation 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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