1st Source Co. (NASDAQ:SRCE) Shares Sold by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC reduced its holdings in 1st Source Co. (NASDAQ:SRCE) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,394 shares of the financial services provider’s stock after selling 315 shares during the period. Linden Thomas Advisory Services LLC owned about 0.11% of 1st Source worth $1,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SRCE. Boston Trust Walden Corp grew its stake in 1st Source by 2.3% in the 3rd quarter. Boston Trust Walden Corp now owns 417,096 shares of the financial services provider’s stock valued at $17,556,000 after acquiring an additional 9,301 shares during the period. Denali Advisors LLC increased its stake in shares of 1st Source by 14.7% during the third quarter. Denali Advisors LLC now owns 46,900 shares of the financial services provider’s stock worth $1,974,000 after purchasing an additional 6,000 shares in the last quarter. Raymond James & Associates acquired a new position in shares of 1st Source during the 3rd quarter worth about $228,000. Bank of New York Mellon Corp raised its position in shares of 1st Source by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 130,609 shares of the financial services provider’s stock worth $5,497,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in 1st Source in the 3rd quarter valued at about $309,000. 74.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at 1st Source

In other 1st Source news, EVP Jeffrey L. Buhr sold 761 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $51.52, for a total transaction of $39,206.72. Following the transaction, the executive vice president now owns 70,252 shares of the company’s stock, valued at $3,619,383.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.44% of the company’s stock.

Wall Street Analysts Forecast Growth

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

1st Source Price Performance

SRCE traded down $0.15 on Wednesday, hitting $50.62. 13,442 shares of the company’s stock were exchanged, compared to its average volume of 64,301. The firm has a 50-day moving average price of $50.20 and a 200-day moving average price of $49.95. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 10.00 and a beta of 0.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. 1st Source Co. has a fifty-two week low of $38.77 and a fifty-two week high of $56.59.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $1.16 earnings per share for the quarter. 1st Source had a net margin of 24.61% and a return on equity of 12.49%. The firm had revenue of $91.41 million for the quarter, compared to analyst estimates of $91.20 million. As a group, equities analysts anticipate that 1st Source Co. will post 4.71 earnings per share for the current year.

About 1st Source

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.