Thrivent Financial for Lutherans Increases Stake in 1st Source Co. (NASDAQ:SRCE)

Thrivent Financial for Lutherans increased its holdings in 1st Source Co. (NASDAQ:SRCE - Free Report) by 625.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,227 shares of the financial services provider's stock after purchasing an additional 28,648 shares during the quarter. Thrivent Financial for Lutherans owned 0.14% of 1st Source worth $1,989,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SRCE. New York State Teachers Retirement System raised its stake in shares of 1st Source by 12.2% during the 3rd quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider's stock worth $100,000 after buying an additional 182 shares during the period. Quest Partners LLC boosted its holdings in 1st Source by 5.2% in the 2nd quarter. Quest Partners LLC now owns 4,664 shares of the financial services provider's stock worth $250,000 after buying an additional 232 shares during the last quarter. Inspire Investing LLC lifted its position in shares of 1st Source by 4.4% in the third quarter. Inspire Investing LLC now owns 6,908 shares of the financial services provider's stock valued at $414,000 after acquiring an additional 293 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in 1st Source by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 28,263 shares of the financial services provider's stock valued at $1,515,000 after purchasing an additional 438 shares in the last quarter. Finally, nVerses Capital LLC boosted its stake in 1st Source by 150.0% during the 3rd quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider's stock worth $60,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 74.45% of the company's stock.

1st Source Stock Performance

SRCE stock remained flat at $64.89 during mid-day trading on Friday. 57,621 shares of the company's stock were exchanged, compared to its average volume of 72,423. 1st Source Co. has a 12 month low of $47.30 and a 12 month high of $68.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $1.59 billion, a PE ratio of 12.34 and a beta of 0.78. The company's fifty day moving average price is $61.51 and its 200 day moving average price is $57.85.

1st Source (NASDAQ:SRCE - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 earnings per share 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 period in the prior year, the business posted $1.32 earnings per share. On average, analysts forecast that 1st Source Co. will post 5.36 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.44 annualized dividend and a yield of 2.22%. 1st Source's dividend payout ratio (DPR) is currently 27.43%.

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.