Principal Financial Group Inc. Buys Shares of 11,095 1st Source Co. (NASDAQ:SRCE)

Principal Financial Group Inc. purchased a new stake in 1st Source Co. (NASDAQ:SRCE - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,095 shares of the financial services provider's stock, valued at approximately $664,000.

Several other large investors have also bought and sold shares of the stock. Jane Street Group LLC raised its holdings in shares of 1st Source by 152.7% in the third quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider's stock valued at $2,106,000 after purchasing an additional 21,254 shares during the last quarter. State Street Corp grew its position in 1st Source by 1.7% in the 3rd quarter. State Street Corp now owns 567,195 shares of the financial services provider's stock worth $33,964,000 after purchasing an additional 9,235 shares in the last quarter. Thrivent Financial for Lutherans increased its stake 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 buying an additional 28,648 shares during the last quarter. Barclays PLC lifted 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 worth $2,487,000 after buying an additional 25,687 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of 1st Source by 95.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 28,110 shares of the financial services provider's stock worth $1,683,000 after buying an additional 13,753 shares during the last quarter. 74.45% of the stock is currently owned by institutional investors.

1st Source Stock Performance

Shares of SRCE traded down $0.25 on Monday, reaching $57.50. 48,082 shares of the company's stock traded hands, compared to its average volume of 57,527. The stock's 50 day simple moving average is $62.53 and its two-hundred day simple moving average is $59.93. The stock has a market cap of $1.41 billion, a PE ratio of 10.95 and a beta of 0.82. 1st Source Co. has a 52-week low of $47.30 and a 52-week high of $68.13. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08.

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

1st Source Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Tuesday, November 5th. 1st Source's payout ratio is 27.43%.

1st Source 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.