Smithfield Trust Co. Continues to Hold Stake in 1st Source Corporation (NASDAQ:SRCE)

Smithfield Trust Co. continued to hold its position in shares of 1st Source Corporation (NASDAQ:SRCE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,147 shares of the financial services provider’s stock at the end of the second quarter. Smithfield Trust Co.’s holdings in 1st Source Corporation were worth $199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SRCE. Karp Capital Management Corp bought a new position in shares of 1st Source Corporation during the first quarter valued at $206,000. Virginia Retirement Systems ET AL bought a new position in shares of 1st Source Corporation during the first quarter valued at $211,000. Citadel Advisors LLC bought a new position in shares of 1st Source Corporation during the first quarter valued at $225,000. Aperio Group LLC raised its position in shares of 1st Source Corporation by 16.1% in the second quarter. Aperio Group LLC now owns 5,104 shares of the financial services provider’s stock valued at $245,000 after buying an additional 709 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of 1st Source Corporation by 11.6% in the first quarter. Bank of America Corp DE now owns 5,974 shares of the financial services provider’s stock valued at $280,000 after buying an additional 620 shares during the last quarter. Institutional investors own 69.53% of the company’s stock.

Shares of 1st Source Corporation (NASDAQ:SRCE) traded up 0.61% during mid-day trading on Friday, hitting $46.10. 39,073 shares of the company’s stock traded hands. 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 P/E 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 Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $70 million for the quarter, compared to analysts’ expectations of $68.90 million. 1st Source Corporation had a net margin of 21.41% and a return on equity of 9.14%. Equities research analysts anticipate that 1st Source Corporation will post $2.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders 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 dividend yield of 1.65%. 1st Source Corporation’s dividend payout ratio is currently 31.80%.

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Several brokerages have weighed in on SRCE. Zacks Investment Research upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Tuesday, June 6th. Piper Jaffray Companies set a $55.00 target price on shares of 1st Source Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 target price on shares of 1st Source Corporation in a research report on Sunday, July 23rd. ValuEngine upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Finally, BidaskClub lowered shares of 1st Source Corporation from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.33.

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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