1st Source (NASDAQ:SRCE) Sets New 52-Week High – Still a Buy?

1st Source Co. (NASDAQ:SRCE) shares reached a new 52-week high during trading on Monday . The company traded as high as $68.10 and last traded at $68.04, with a volume of 24763 shares changing hands. The stock had previously closed at $66.29.

1st Source Trading Down 1.5 %

The stock has a market cap of $1.60 billion, a P/E ratio of 12.42 and a beta of 0.78. The firm’s fifty day moving average price is $61.24 and its two-hundred day moving average price is $57.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.36 by $0.05. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. The company had revenue of $97.93 million during the quarter, compared to analyst estimates of $97.30 million. During the same quarter in the previous year, the firm earned $1.32 earnings per share. As a group, equities research analysts forecast that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, November 5th. 1st Source’s dividend payout ratio (DPR) is currently 27.43%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SRCE. Isthmus Partners LLC boosted its holdings in 1st Source by 3.0% during the 2nd quarter. Isthmus Partners LLC now owns 66,920 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 1,943 shares during the period. LRI Investments LLC bought a new stake in 1st Source in the 1st quarter worth $48,000. nVerses Capital LLC increased its position in shares of 1st Source by 150.0% in the third quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 600 shares during the period. CWM LLC increased its position in shares of 1st Source by 726.1% in the second quarter. CWM LLC now owns 1,363 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 1,198 shares during the period. Finally, New York State Teachers Retirement System raised its stake in shares of 1st Source by 12.2% during the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 182 shares during the last quarter. 74.45% of the stock is currently owned by institutional investors.

1st Source Company Profile

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.