ExodusPoint Capital Management LP purchased a new position in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,281 shares of the financial services provider's stock, valued at approximately $892,000. ExodusPoint Capital Management LP owned about 0.06% of 1st Source at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of 1st Source in the fourth quarter worth about $40,000. Financial Life Planners acquired a new position in shares of 1st Source in the 4th quarter valued at $48,000. Jones Financial Companies Lllp grew its holdings in shares of 1st Source by 61.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider's stock worth $71,000 after purchasing an additional 465 shares during the period. Picton Mahoney Asset Management increased its position in shares of 1st Source by 105.6% during the 4th quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider's stock worth $111,000 after purchasing an additional 977 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of 1st Source during the fourth quarter valued at about $250,000. 74.45% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on SRCE shares. Piper Sandler raised shares of 1st Source from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $70.00 to $72.50 in a research report on Monday, January 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of 1st Source in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods increased their target price on 1st Source from $67.00 to $69.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th.
Check Out Our Latest Research Report on SRCE
1st Source Stock Up 1.8 %
Shares of SRCE traded up $0.96 during midday trading on Tuesday, hitting $54.24. The company had a trading volume of 50,362 shares, compared to its average volume of 80,900. The company's 50-day simple moving average is $61.49 and its 200-day simple moving average is $61.22. 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 Co. has a 1 year low of $47.30 and a 1 year high of $68.13. The firm has a market capitalization of $1.33 billion, a P/E ratio of 10.12 and a beta of 0.67.
1st Source (NASDAQ:SRCE - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. As a group, sell-side analysts expect that 1st Source Co. will post 5.82 EPS for the current year.
1st Source Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.65%. The ex-dividend date was Tuesday, February 4th. 1st Source's dividend payout ratio is presently 26.87%.
About 1st Source
(
Free Report)
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.
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