1st Source Co. (NASDAQ:SRCE) Short Interest Update

1st Source Co. (NASDAQ:SRCE) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 177,900 shares, a growth of 22.0% from the October 31st total of 145,800 shares. Based on an average trading volume of 73,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.0% of the shares of the company are short sold.

1st Source Stock Performance

NASDAQ:SRCE opened at $64.89 on Monday. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 12.36 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. 1st Source has a 1 year low of $47.30 and a 1 year high of $68.13. The business has a fifty day moving average of $61.60 and a 200-day moving average of $57.98.

1st Source (NASDAQ:SRCE) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. The firm had revenue of $97.93 million during the quarter, compared to analyst estimates of $97.30 million. During the same quarter in the prior year, the firm posted $1.32 EPS. Equities analysts predict that 1st Source will post 5.36 earnings per share for the current year.

1st Source Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.44 annualized dividend and a yield of 2.22%. 1st Source’s payout ratio is 27.43%.

Hedge Funds Weigh In On 1st Source

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRCE. Denali Advisors LLC lifted its holdings in shares of 1st Source by 47.0% in the second quarter. Denali Advisors LLC now owns 105,100 shares of the financial services provider’s stock valued at $5,635,000 after buying an additional 33,600 shares during the period. Thrivent Financial for Lutherans lifted its holdings in 1st Source by 625.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider’s stock valued at $1,989,000 after acquiring an additional 28,648 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in 1st Source in the 3rd quarter valued at about $1,713,000. Barclays PLC boosted its position in shares of 1st Source by 162.2% during the 3rd quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock valued at $2,487,000 after purchasing an additional 25,687 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of 1st Source by 152.7% in the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock worth $2,106,000 after purchasing an additional 21,254 shares during the last quarter. 74.45% of the stock is 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.