Valeo Financial Advisors LLC Purchases New Holdings in 1st Source Co. (NASDAQ:SRCE)

Valeo Financial Advisors LLC acquired a new position in shares of 1st Source Co. (NASDAQ:SRCE) during the 4th quarter, Holdings Channel reports. The firm acquired 7,277 shares of the financial services provider’s stock, valued at approximately $400,000.

A number of other institutional investors also recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in 1st Source in the fourth quarter valued at $29,000. Osaic Holdings Inc. lifted its position in shares of 1st Source by 58.4% during the second quarter. Osaic Holdings Inc. now owns 998 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 368 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in 1st Source by 176.2% in the third quarter. Tower Research Capital LLC TRC now owns 1,508 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 962 shares in the last quarter. Point72 Middle East FZE bought a new stake in 1st Source in the second quarter valued at about $88,000. Finally, Citigroup Inc. increased its holdings in 1st Source by 297.2% in the first quarter. Citigroup Inc. now owns 2,554 shares of the financial services provider’s stock valued at $110,000 after buying an additional 1,911 shares during the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their target price on 1st Source from $52.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, January 22nd.

Insiders Place Their Bets

In related news, EVP Jeffrey L. Buhr sold 761 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $51.52, for a total value of $39,206.72. Following the completion of the transaction, the executive vice president now directly owns 70,252 shares of the company’s stock, valued at approximately $3,619,383.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.44% of the stock is owned by insiders.

1st Source Stock Down 0.3 %

NASDAQ:SRCE opened at $48.29 on Monday. The firm has a market capitalization of $1.18 billion, a PE ratio of 9.60 and a beta of 0.79. 1st Source Co. has a 52 week low of $38.77 and a 52 week high of $56.59. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average of $50.36 and a 200-day moving average of $49.61.

1st Source (NASDAQ:SRCE) last issued its earnings results on Tuesday, February 20th. The financial services provider reported $1.16 earnings per share for the quarter. 1st Source had a return on equity of 12.49% and a net margin of 24.61%. The firm had revenue of $91.41 million for the quarter, compared to analyst estimates of $91.20 million. Analysts predict that 1st Source Co. will post 4.71 EPS for the current year.

1st Source Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Friday, February 2nd. 1st Source’s payout ratio is 27.04%.

About 1st Source

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products to individual and business clients. Its consumer banking services include checking and savings accounts; certificates of deposit; individual retirement accounts; online and mobile banking products; consumer loans, real estate mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.