Bessemer Group Inc. Has $1.10 Million Stake in 1st Source Co. (NASDAQ:SRCE)

Bessemer Group Inc. decreased its position in 1st Source Co. (NASDAQ:SRCE) by 23.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,210 shares of the financial services provider’s stock after selling 6,741 shares during the quarter. Bessemer Group Inc. owned about 0.09% of 1st Source worth $1,098,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of 1st Source by 3.7% in 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. Macquarie Group Ltd. purchased a new stake in shares of 1st Source during the third quarter valued at $212,000. Royal Bank of Canada lifted its holdings in shares of 1st Source by 598.4% during the second quarter. Royal Bank of Canada now owns 4,281 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 3,668 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of 1st Source during the third quarter valued at $230,000. Finally, SG Americas Securities LLC purchased a new stake in shares of 1st Source during the third quarter valued at $274,000. Institutional investors and hedge funds own 70.13% of the company’s stock.

Shares of 1st Source Co. (SRCE) traded up $0.53 during mid-day trading on Friday, reaching $50.86. The company’s stock had a trading volume of 39,100 shares, compared to its average volume of 50,580. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. 1st Source Co. has a 12 month low of $43.58 and a 12 month high of $54.00. The firm has a market cap of $1,305.40, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.50 and a beta of 1.07.

1st Source (NASDAQ:SRCE) last issued its earnings results on Friday, January 19th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). 1st Source had a return on equity of 9.37% and a net margin of 21.88%. The firm had revenue of $74.49 million during the quarter, compared to analyst estimates of $71.40 million. sell-side analysts forecast that 1st Source Co. will post 3.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a $0.22 dividend. This is a positive change from 1st Source’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Friday, February 2nd. 1st Source’s dividend payout ratio is presently 33.72%.

Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded 1st Source from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. BidaskClub downgraded 1st Source from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. DA Davidson reaffirmed a “hold” rating and set a $53.00 target price on shares of 1st Source in a report on Monday, October 23rd. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “buy” rating and issued a $59.00 price objective on shares of 1st Source in a research note on Tuesday, January 9th. Finally, ValuEngine raised 1st Source from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $56.25.

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1st Source 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.

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

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