American Century Companies Inc. lifted its position in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 30.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 119,639 shares of the financial services provider's stock after purchasing an additional 27,966 shares during the quarter. American Century Companies Inc. owned about 0.49% of 1st Source worth $6,985,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of SRCE. Intech Investment Management LLC purchased a new stake in 1st Source during the fourth quarter worth approximately $502,000. Picton Mahoney Asset Management lifted its holdings 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 valued at $111,000 after acquiring an additional 977 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in 1st Source by 48.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 42,390 shares of the financial services provider's stock worth $2,475,000 after purchasing an additional 13,784 shares during the period. Isthmus Partners LLC boosted its position in 1st Source by 0.6% during the 4th quarter. Isthmus Partners LLC now owns 54,649 shares of the financial services provider's stock worth $3,190,000 after purchasing an additional 328 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in 1st Source in the 4th quarter valued at $250,000. Hedge funds and other institutional investors own 74.45% of the company's stock.
1st Source Stock Down 0.4 %
Shares of 1st Source stock traded down $0.21 during trading hours on Tuesday, hitting $54.28. 91,297 shares of the company's stock traded hands, compared to its average volume of 80,407. 1st Source Co. has a twelve month low of $47.30 and a twelve month high of $68.13. The company has a market cap of $1.33 billion, a PE ratio of 10.13 and a beta of 0.67. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $62.38 and a 200-day simple moving average of $61.36.
1st Source (NASDAQ:SRCE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 11.92% and a net margin of 23.10%. Equities research analysts anticipate that 1st Source Co. will post 5.82 earnings per share for the current fiscal year.
1st Source Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.65%. 1st Source's dividend payout ratio (DPR) is presently 26.87%.
Analyst Ratings Changes
A number of research analysts have commented on SRCE shares. Keefe, Bruyette & Woods boosted their price objective 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. Weiss Ratings reissued a "buy (b)" rating on shares of 1st Source in a research report on Saturday, March 22nd. Finally, Piper Sandler raised shares of 1st Source from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $70.00 to $72.50 in a research report on Monday, January 27th.
Check Out Our Latest Report 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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