Harbor Capital Advisors increases stake in 1st Source Co with raised position
November 7, 2024
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1ST SOURCE ($NASDAQ:SRCE) is a diversified financial services company that offers a wide range of banking, insurance, and wealth management services. Recently, there has been a significant development with regards to the company’s stock. Harbor Capital Advisors Inc., a prominent investment firm, has increased its stake in 1ST SOURCE Co. This news has caught the attention of investors and financial analysts, as it could have a significant impact on the company’s stock performance. Harbor Capital Advisors Inc. has raised its position in 1ST SOURCE Co, indicating a strong belief in the company’s future prospects. This increase in stake could be seen as a vote of confidence in 1ST SOURCE’s management, business model, and financial performance. Moreover, this move also signals Harbor Capital Advisors’ confidence in the overall market conditions and potential for growth in the financial sector. As an experienced investment firm, their decision to increase their position in 1ST SOURCE could influence other investors to take notice and potentially follow suit.
This development also highlights the importance of conducting thorough research and analysis before making any investment decisions. With Harbor Capital Advisors’ increased stake in 1ST SOURCE, investors may be inclined to take a closer look at the company’s financials and performance to make informed investment choices. Furthermore, this news could also have a positive impact on 1ST SOURCE’s stock price. As more investors take notice of the increased stake by Harbor Capital Advisors, it could create a sense of optimism and potentially drive up the demand for the company’s stock. In conclusion, 1ST SOURCE’s position has been increased by Harbor Capital Advisors Inc., signaling a positive outlook for the company’s future performance. This development not only reflects the strength of 1ST SOURCE as a company but also highlights the importance of conducting thorough research and analysis in the ever-changing financial market.
Price History
This news caused some fluctuations in the stock price of 1ST SOURCE, which opened at $58.93 and closed at $58.755. This represented a decrease of 1.17% from the previous closing price of $59.45. As a financial services company, 1st Source Co offers a variety of services such as banking, trust and investment management, and insurance to individuals and businesses. The stock price of 1ST SOURCE may have seen a slight dip following the news of Harbor Capital Advisors Inc.’s increased stake.
However, this could also be due to other external factors such as market fluctuations and investor sentiment. It is important to note that stock prices can fluctuate on a daily basis and should not be seen as a direct reflection of a company’s performance. Investors can keep an eye on the company’s performance and future developments to make informed decisions about their investments. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for 1st Source. More…
| Total Revenues | Net Income | Net Margin |
| – | 124.93 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for 1st Source. More…
| Operations | Investing | Financing |
| 175.53 | -784.87 | 206.95 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for 1st Source. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.73k | 7.66k | – |
Key Ratios Snapshot
Some of the financial key ratios for 1st Source are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.8% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
After thoroughly analyzing the financials of 1ST SOURCE, I have found that the company has a strong financial position. This is evident from the high health score of 9/10 on the Star Chart, which indicates that the company has a healthy cash flow and manageable levels of debt. This is a positive sign as it shows that 1ST SOURCE is capable of sustaining its operations even in times of crisis. Based on our analysis, we have classified 1ST SOURCE as a ‘rhino’ company. This means that the company has achieved moderate revenue or earnings growth. While it may not have the fastest growth rate, 1ST SOURCE is a stable and reliable company with a solid financial foundation. This makes it an attractive option for investors who are looking for long-term stability and steady returns. Investors who are interested in 1ST SOURCE may include those who prioritize profitability, asset management, and dividends. Our analysis shows that the company stands strong in these areas, indicating that it is a financially sound investment. Additionally, investors who are seeking moderate growth and are willing to take on a lower risk may also find 1ST SOURCE to be an appealing option. In conclusion, our analysis of 1ST SOURCE’s financials reveals that it is a strong and stable company. With a high health score and a ‘rhino’ classification, 1ST SOURCE is well-positioned to weather any financial challenges. It is likely to attract investors who value stability and consistent returns, making it a promising investment opportunity. More…
Peers
The company offers a wide range of products and services including banking, lending, investments, and insurance. 1st Source Corp competes with a number of other financial institutions in the United States, including Salisbury Bancorp Inc, Union Bank Of The Philippines Inc, East West Banking Corp.
– Salisbury Bancorp Inc ($NASDAQ:SAL)
Salisbury Bancorp Inc is a bank holding company based in the United States. The company was founded in 1892 and is headquartered in New York, New York. Salisbury Bancorp Inc operates through its subsidiary, Salisbury Bank and Trust Company. The company provides banking services to individuals and businesses in the United States. Salisbury Bank and Trust Company offers a range of deposit and loan products, as well as online and mobile banking services.
– Union Bank Of The Philippines Inc ($PSE:UBP)
Union Bank of the Philippines Inc has a market cap of 167.08B as of 2022. The company is a universal bank that provides a wide range of banking and other financial services to its retail, corporate, and institutional clients. Its products and services include deposit products, loans, credit cards, foreign exchange, treasury, and trust services. The bank has a network of over 900 branches and 2,600 ATMs nationwide.
– East West Banking Corp ($PSE:EW)
East West Banking Corporation is a Philippines-based bank. The Bank offers a range of personal and corporate banking services, which include deposits, loans, foreign exchange, treasury, credit cards, and other services. East West Banking Corporation has a nationwide network of over 500 branches and 1,800 ATMs.
Summary
Harbor Capital Advisors Inc. has increased their investment in 1st Source Co., indicating that they have confidence in the company’s potential for growth and profitability. This move suggests that the company’s financials and market performance have been closely analyzed and deemed favorable by the investment firm. It also showcases the potential for 1st Source Co. to generate strong returns for its investors. This information may be of interest to other investors who are considering investing in the company, as it could signal a positive outlook for 1st Source Co. and potentially drive up demand for its shares.
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