Charles Schwab Investment Management Inc. increased its stake in 1st Source Co. (NASDAQ:SRCE - Free Report) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 592,941 shares of the financial services provider's stock after purchasing an additional 6,569 shares during the period. Charles Schwab Investment Management Inc. owned 2.42% of 1st Source worth $34,616,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of SRCE. Valeo Financial Advisors LLC boosted its stake 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 valued at $591,000 after acquiring an additional 221 shares during the last quarter. Jones Financial Companies Lllp raised its position 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 valued at $71,000 after acquiring an additional 465 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of 1st Source by 1.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 60,417 shares of the financial services provider's stock valued at $3,618,000 after purchasing an additional 600 shares during the period. Rhumbline Advisers boosted its position in shares of 1st Source by 1.6% in the 4th quarter. Rhumbline Advisers now owns 42,233 shares of the financial services provider's stock worth $2,466,000 after purchasing an additional 656 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of 1st Source during the fourth quarter worth $40,000. Institutional investors and hedge funds own 74.45% of the company's stock.
1st Source Stock Down 0.8 %
Shares of SRCE traded down $0.52 on Thursday, hitting $61.76. The company's stock had a trading volume of 54,399 shares, compared to its average volume of 72,940. The firm's fifty day moving average price is $62.16 and its 200-day moving average price is $61.43. 1st Source Co. has a fifty-two week low of $47.30 and a fifty-two week high of $68.13. 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 firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.63 and a beta of 0.78.
1st Source (NASDAQ:SRCE - Get Free Report) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, topping 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%. On average, equities research analysts expect that 1st Source Co. will post 5.82 EPS for the current year.
1st Source Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, February 4th. 1st Source's dividend payout ratio is presently 26.87%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Piper Sandler raised 1st Source from a "neutral" rating to an "overweight" rating and increased their target price for the company from $70.00 to $72.50 in a research note on Monday, January 27th. Keefe, Bruyette & Woods increased their price target 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 restated a "buy (b)" rating on shares of 1st Source in a report on Friday, March 7th.
Check Out Our Latest Report on SRCE
1st Source Profile
(
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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