Sei Investments Co. increased its stake in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 91.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,494 shares of the financial services provider's stock after purchasing an additional 25,528 shares during the period. Sei Investments Co. owned approximately 0.22% of 1st Source worth $3,123,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SRCE. Valeo Financial Advisors LLC boosted its position in 1st Source by 2.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 10,124 shares of the financial services provider's stock worth $591,000 after purchasing an additional 221 shares during the last quarter. Isthmus Partners LLC boosted its holdings in shares of 1st Source by 0.6% in the fourth quarter. Isthmus Partners LLC now owns 54,649 shares of the financial services provider's stock worth $3,190,000 after buying an additional 328 shares during the last quarter. Jones Financial Companies Lllp grew its position in 1st Source by 61.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider's stock valued at $71,000 after buying an additional 465 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in 1st Source by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 60,417 shares of the financial services provider's stock valued at $3,618,000 after buying an additional 600 shares during the period. Finally, Rhumbline Advisers increased its holdings in 1st Source by 1.6% during the fourth quarter. Rhumbline Advisers now owns 42,233 shares of the financial services provider's stock valued at $2,466,000 after buying an additional 656 shares during the last quarter. Institutional investors own 74.45% of the company's stock.
1st Source Price Performance
NASDAQ:SRCE traded down $0.21 during trading hours on Tuesday, hitting $54.28. 91,297 shares of the stock traded hands, compared to its average volume of 80,407. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 10.13 and a beta of 0.67. 1st Source Co. has a 1 year low of $47.30 and a 1 year high of $68.13. The stock has a 50 day moving average price of $62.38 and a 200 day moving average price of $61.36. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.
1st Source (NASDAQ:SRCE - Get Free Report) last released its earnings results on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. Sell-side analysts forecast that 1st Source Co. will post 5.82 EPS for the current fiscal year.
1st Source Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Tuesday, February 4th. 1st Source's dividend payout ratio (DPR) is 26.87%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of 1st Source in a research report on Saturday, March 22nd. Keefe, Bruyette & Woods boosted their price target on 1st Source from $67.00 to $69.00 and gave the company a "market perform" rating in a report on Monday, January 27th. Finally, Piper Sandler raised 1st Source from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $70.00 to $72.50 in a research note on Monday, January 27th.
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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