1st Source Corporation (SRCE) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lowered its stake in shares of 1st Source Corporation (NASDAQ:SRCE) by 21.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,057 shares of the financial services provider’s stock after selling 18,901 shares during the quarter. Martingale Asset Management L P owned about 0.27% of 1st Source Corporation worth $3,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of 1st Source Corporation by 3.7% during the second quarter. Legal & General Group Plc now owns 3,866 shares of the financial services provider’s stock valued at $186,000 after buying an additional 137 shares during the period. Victory Capital Management Inc. increased its position in shares of 1st Source Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,133 shares of the financial services provider’s stock valued at $198,000 after buying an additional 620 shares during the period. Karp Capital Management Corp purchased a new position in shares of 1st Source Corporation during the first quarter valued at about $206,000. Virginia Retirement Systems ET AL purchased a new position in shares of 1st Source Corporation during the first quarter valued at about $211,000. Finally, Citadel Advisors LLC purchased a new position in shares of 1st Source Corporation during the first quarter valued at about $225,000. Institutional investors own 70.22% of the company’s stock.

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1st Source Corporation (SRCE) opened at 47.17 on Friday. 1st Source Corporation has a 12 month low of $33.27 and a 12 month high of $50.78. The stock has a market cap of $1.22 billion, a PE ratio of 19.73 and a beta of 1.04. The company’s 50 day moving average is $47.12 and its 200 day moving average is $47.29.

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 for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. 1st Source Corporation had a net margin of 21.41% and a return on equity of 9.14%. The company had revenue of $70.00 million during the quarter, compared to analyst estimates of $68.90 million. On average, analysts anticipate that 1st Source Corporation will post $2.59 EPS for the current fiscal year.

SRCE has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Tuesday, August 29th. ValuEngine upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of 1st Source Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price target on shares of 1st Source Corporation in a research report on Sunday, July 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $51.67.

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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