1st Source Corporation (SRCE) Shares Bought by Nordea Investment Management AB
Nordea Investment Management AB boosted its position in 1st Source Corporation (NASDAQ:SRCE) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,480 shares of the financial services provider’s stock after buying an additional 700 shares during the quarter. Nordea Investment Management AB owned approximately 0.35% of 1st Source Corporation worth $4,338,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in 1st Source Corporation by 3.8% in the second quarter. Vanguard Group Inc. now owns 711,898 shares of the financial services provider’s stock valued at $34,129,000 after acquiring an additional 26,341 shares during the period. Northern Trust Corp boosted its stake in 1st Source Corporation by 1.8% in the second quarter. Northern Trust Corp now owns 260,547 shares of the financial services provider’s stock valued at $12,491,000 after acquiring an additional 4,542 shares during the period. New York State Common Retirement Fund boosted its stake in 1st Source Corporation by 22.7% in the second quarter. New York State Common Retirement Fund now owns 26,308 shares of the financial services provider’s stock valued at $1,261,000 after acquiring an additional 4,873 shares during the period. Nationwide Fund Advisors boosted its stake in 1st Source Corporation by 4.2% in the second quarter. Nationwide Fund Advisors now owns 17,218 shares of the financial services provider’s stock valued at $825,000 after acquiring an additional 700 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in 1st Source Corporation by 49.6% in the second quarter. Ameriprise Financial Inc. now owns 25,207 shares of the financial services provider’s stock valued at $1,209,000 after acquiring an additional 8,363 shares during the period. 70.22% of the stock is owned by hedge funds and other institutional investors.
SRCE has been the subject of a number of research reports. Zacks Investment Research upgraded 1st Source Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, August 29th. ValuEngine upgraded 1st Source Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded 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 objective 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, two have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $51.67.
1st Source Corporation (NASDAQ SRCE) opened at 50.80 on Friday. 1st Source Corporation has a 12 month low of $33.27 and a 12 month high of $51.65. The stock’s 50 day moving average price is $47.04 and its 200 day moving average price is $47.30. The firm has a market capitalization of $1.32 billion, a P/E ratio of 21.25 and a beta of 1.04.
1st Source Corporation (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $70.00 million for the quarter, compared to analysts’ expectations of $68.90 million. On average, analysts forecast that 1st Source Corporation will post $2.59 earnings per share for the current year.
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1st Source Corporation Company Profile
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.
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