1st Source Corporation (NASDAQ:SRCE) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in shares of 1st Source Corporation (NASDAQ:SRCE) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,865 shares of the financial services provider’s stock after selling 200 shares during the period. California Public Employees Retirement System owned approximately 0.15% of 1st Source Corporation worth $1,872,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Karp Capital Management Corp bought a new position in 1st Source Corporation during the first quarter valued at about $206,000. Bank of New York Mellon Corp raised its stake in shares of 1st Source Corporation by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 118,020 shares of the financial services provider’s stock worth $5,541,000 after buying an additional 6,974 shares in the last quarter. First Trust Advisors LP raised its stake in shares of 1st Source Corporation by 5.7% in the first quarter. First Trust Advisors LP now owns 101,860 shares of the financial services provider’s stock worth $4,782,000 after buying an additional 5,487 shares in the last quarter. Reinhart Partners Inc. raised its stake in shares of 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 in the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in shares of 1st Source Corporation during the first quarter worth $762,000. Hedge funds and other institutional investors own 69.53% of the company’s stock.

1st Source Corporation (NASDAQ SRCE) opened at 46.10 on Friday. 1st Source Corporation has a 1-year low of $33.27 and a 1-year high of $50.78. The stock has a 50 day moving average price of $48.32 and a 200-day moving average price of $47.12. The stock has a market cap of $1.20 billion, a PE ratio of 19.28 and a beta of 1.03.

1st Source Corporation (NASDAQ:SRCE) last announced 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. 1st Source Corporation had a return on equity of 9.14% and a net margin of 21.41%. The company had revenue of $70 million for the quarter, compared to analysts’ expectations of $68.90 million. On average, equities analysts expect that 1st Source Corporation will post $2.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were paid a $0.19 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $0.76 annualized dividend and a yield of 1.65%. 1st Source Corporation’s dividend payout ratio (DPR) is currently 31.80%.

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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded 1st Source Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Saturday. BidaskClub lowered 1st Source Corporation from a “hold” rating to a “sell” rating in a research report on Friday. ValuEngine upgraded 1st Source Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Piper Jaffray Companies set a $55.00 price objective on 1st Source Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 price objective on shares of 1st Source Corporation in a research report on Sunday, July 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $51.00.

About 1st Source Corporation

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.

Institutional Ownership by Quarter for 1st Source Corporation (NASDAQ:SRCE)

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