Institutional Investors Are Crazy About 1ST Source Corp (NASDAQ:SRCE)

June 14, 2018 - By Henry Gaston

1st Source Corporation (NASDAQ:SRCE) Logo

Sentiment for 1ST Source Corp (NASDAQ:SRCE)

1ST Source Corp (NASDAQ:SRCE) institutional sentiment increased to 1.17 in Q1 2018. Its up 0.37, from 0.8 in 2017Q4. The ratio is more positive, as 49 investment professionals increased or started new holdings, while 42 reduced and sold stakes in 1ST Source Corp. The investment professionals in our partner’s database reported: 18.28 million shares, up from 17.97 million shares in 2017Q4. Also, the number of investment professionals holding 1ST Source Corp in their top 10 holdings was flat from 1 to 1 for the same number . Sold All: 5 Reduced: 37 Increased: 34 New Position: 15.

1st Source Corporation operates as the bank holding firm for 1st Source Bank that provides commercial and consumer banking services, trust and investment management services, and insurance to individual and business clients. The company has market cap of $1.43 billion. The Company’s consumer banking services include checking and savings accounts; certificates of deposit; individual retirement accounts; on-line and mobile banking products; automated teller machine services; consumer loans, real estate loans, and lines of credit; and financial planning, financial literacy, and other consultative services. It has a 21.24 P/E ratio. The firm also offers commercial, small business, agricultural, and real estate loans for general corporate purposes, including financing for industrial and commercial properties, equipment, inventories, accounts receivables, and acquisition financing; and commercial leasing, treasury management, and retirement planning services.

The stock increased 0.55% or $0.3 during the last trading session, reaching $55.23. About 33,823 shares traded. 1st Source Corporation (NASDAQ:SRCE) has risen 14.75% since June 14, 2017 and is uptrending. It has outperformed by 2.18% the S&P500.

Analysts await 1st Source Corporation (NASDAQ:SRCE) to report earnings on July, 19. They expect $0.86 earnings per share, up 34.38 % or $0.22 from last year’s $0.64 per share. SRCE’s profit will be $22.33 million for 16.06 P/E if the $0.86 EPS becomes a reality. After $0.73 actual earnings per share reported by 1st Source Corporation for the previous quarter, Wall Street now forecasts 17.81 % EPS growth.

1St Source Bank holds 30.31% of its portfolio in 1st Source Corporation for 7.23 million shares. Indiana Trust & Investment Management Co owns 54,932 shares or 1.29% of their US portfolio. Moreover, Reinhart Partners Inc. has 0.4% invested in the company for 75,928 shares. The Indiana-based Walter & Keenan Financial Consulting Co Mi Adv has invested 0.25% in the stock. Prescott Group Capital Management L.L.C., a Oklahoma-based fund reported 21,000 shares.

Since January 1, 0001, it had 1 insider purchase, and 1 sale for $441,072 activity.

1st Source Corporation (NASDAQ:SRCE) Institutional Positions Chart

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