Arrowstreet Capital Limited Partnership trimmed its position in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 41.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,702 shares of the financial services provider's stock after selling 30,710 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.17% of 1st Source worth $2,493,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. FMR LLC increased its stake in shares of 1st Source by 6.1% during the 3rd quarter. FMR LLC now owns 120,617 shares of the financial services provider's stock worth $7,223,000 after purchasing an additional 6,981 shares in the last quarter. Centiva Capital LP acquired a new stake in 1st Source during the 3rd quarter valued at $273,000. State Street Corp increased its position in 1st Source by 1.7% during the third quarter. State Street Corp now owns 567,195 shares of the financial services provider's stock worth $33,964,000 after buying an additional 9,235 shares in the last quarter. 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 worth $2,106,000 after acquiring an additional 21,254 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of 1st Source in the third quarter valued at $266,000. Institutional investors and hedge funds own 74.45% of the company's stock.
1st Source Trading Up 1.5 %
NASDAQ SRCE traded up $0.79 during trading hours on Tuesday, hitting $54.07. 5,785 shares of the company's stock were exchanged, compared to its average volume of 80,716. The business's 50 day moving average is $61.49 and its 200-day 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 12-month low of $47.30 and a 12-month high of $68.13. The firm has a market capitalization of $1.33 billion, a P/E ratio of 10.09 and a beta of 0.67.
1st Source (NASDAQ:SRCE - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share 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, analysts anticipate that 1st Source Co. will post 5.82 EPS for the current fiscal year.
1st Source Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.44 annualized dividend and a dividend yield of 2.66%. 1st Source's dividend payout ratio is presently 26.87%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on SRCE shares. Piper Sandler upgraded 1st Source from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $70.00 to $72.50 in a research report on Monday, January 27th. Keefe, Bruyette & Woods boosted their price objective on shares of 1st Source from $67.00 to $69.00 and gave the company a "market perform" rating in a research report on Monday, January 27th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of 1st Source in a research note on Tuesday, April 8th.
Check Out Our Latest Analysis on 1st Source
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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