Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 48.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,390 shares of the financial services provider's stock after acquiring an additional 13,784 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of 1st Source worth $2,475,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its holdings in shares of 1st Source by 2.2% during the 4th 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 in the last quarter. Isthmus Partners LLC lifted its holdings 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 buying an additional 328 shares during the period. Jones Financial Companies Lllp lifted its holdings in 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 worth $71,000 after buying an additional 465 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in 1st Source by 1.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 60,417 shares of the financial services provider's stock worth $3,618,000 after buying an additional 600 shares during the period. Finally, Rhumbline Advisers lifted its holdings in 1st Source by 1.6% during the 4th quarter. Rhumbline Advisers now owns 42,233 shares of the financial services provider's stock worth $2,466,000 after buying an additional 656 shares during the period. Institutional investors and hedge funds own 74.45% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on SRCE shares. Keefe, Bruyette & Woods lifted their target price on 1st Source from $67.00 to $69.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Piper Sandler raised 1st Source from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $70.00 to $72.50 in a report on Monday, January 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of 1st Source in a report on Friday, March 7th.
Get Our Latest Research Report on SRCE
1st Source Trading Down 0.3 %
Shares of NASDAQ:SRCE traded down $0.17 during midday trading on Friday, reaching $61.50. The company's stock had a trading volume of 743,678 shares, compared to its average volume of 75,125. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.47 and a beta of 0.78. 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 firm has a 50 day moving average price of $62.38 and a two-hundred day moving average price of $61.43. 1st Source Co. has a fifty-two week low of $47.30 and a fifty-two week high of $68.13.
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 (EPS) 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%. As a group, analysts forecast that 1st Source Co. will post 5.82 earnings per share for the current 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 2.34%. The ex-dividend date was Tuesday, February 4th. 1st Source's dividend payout ratio is 26.87%.
1st Source Company 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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