John Griffith Sells 1,900 Shares of 1st Source (NASDAQ:SRCE) Stock

1st Source Corporation (NASDAQ:SRCE) VP John Griffith sold 1,900 shares of 1st Source stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $66.01, for a total transaction of $125,419.00. Following the completion of the transaction, the vice president owned 65,976 shares in the company, valued at approximately $4,355,075.76. This trade represents a 2.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

1st Source Trading Down 0.0%

Shares of SRCE opened at $65.82 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.61 billion, a P/E ratio of 10.95 and a beta of 0.66. The stock’s fifty day simple moving average is $61.26 and its 200 day simple moving average is $61.85. 1st Source Corporation has a twelve month low of $52.14 and a twelve month high of $67.77.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.12. The firm had revenue of $110.26 million during the quarter, compared to the consensus estimate of $109.46 million. 1st Source had a return on equity of 12.25% and a net margin of 24.97%. On average, equities research analysts forecast that 1st Source Corporation will post 5.82 earnings per share for the current year.

1st Source Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were given a dividend of $0.40 per share. This is a boost from 1st Source’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. 1st Source’s dividend payout ratio is currently 26.62%.

Analyst Ratings Changes

SRCE has been the topic of a number of recent research reports. DA Davidson lifted their price target on shares of 1st Source from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Zacks Research downgraded shares of 1st Source from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of 1st Source in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $72.67.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in 1st Source by 562.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 371 shares in the last quarter. Quarry LP grew its stake in shares of 1st Source by 1,694.4% during the third quarter. Quarry LP now owns 646 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 610 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of 1st Source during the third quarter worth about $60,000. CX Institutional purchased a new stake in shares of 1st Source during the second quarter worth about $63,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of 1st Source by 435.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,682 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,368 shares in the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.

1st Source Company Profile

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.