Short Interest in 1st Source Co. (NASDAQ:SRCE) Rises By 22.0%

1st Source Co. (NASDAQ:SRCE) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 177,900 shares, an increase of 22.0% from the October 31st total of 145,800 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 73,000 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Trading of 1st Source

Large investors have recently added to or reduced their stakes in the stock. Isthmus Partners LLC increased its holdings in 1st Source by 3.0% in the 2nd quarter. Isthmus Partners LLC now owns 66,920 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,943 shares in the last quarter. LRI Investments LLC acquired a new stake in 1st Source in the 1st quarter valued at $48,000. nVerses Capital LLC increased its holdings in 1st Source by 150.0% in the 3rd quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 600 shares in the last quarter. CWM LLC increased its holdings in 1st Source by 726.1% in the 2nd quarter. CWM LLC now owns 1,363 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,198 shares in the last quarter. Finally, New York State Teachers Retirement System increased its holdings in 1st Source by 12.2% in the 3rd quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 182 shares in the last quarter. 74.45% of the stock is currently owned by institutional investors and hedge funds.

1st Source Stock Performance

Shares of 1st Source stock remained flat at $64.89 during trading hours on Friday. The company’s stock had a trading volume of 57,621 shares, compared to its average volume of 72,423. 1st Source has a one year low of $47.30 and a one year high of $68.13. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 12.36 and a beta of 0.78. The company’s 50-day moving average is $61.60 and its two-hundred day moving average is $57.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. The company had revenue of $97.93 million for the quarter, compared to analyst estimates of $97.30 million. During the same quarter in the prior year, the company posted $1.32 EPS. On average, equities research analysts anticipate that 1st Source will post 5.36 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.36 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.44 annualized dividend and a yield of 2.22%. 1st Source’s dividend payout ratio is currently 27.43%.

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.