Dean Investment Associates LLC Cuts Position in 1st Source Co. (NASDAQ:SRCE)

Dean Investment Associates LLC decreased its position in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,039 shares of the financial services provider's stock after selling 14,739 shares during the period. Dean Investment Associates LLC owned approximately 0.24% of 1st Source worth $3,535,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Isthmus Partners LLC raised its stake in shares of 1st Source by 3.0% in the second quarter. Isthmus Partners LLC now owns 66,920 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 1,943 shares during the period. nVerses Capital LLC grew its holdings in 1st Source by 150.0% during the 3rd quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 600 shares during the last quarter. CWM LLC raised its position in 1st Source by 726.1% in the 2nd quarter. CWM LLC now owns 1,363 shares of the financial services provider's stock worth $73,000 after purchasing an additional 1,198 shares during the period. New York State Teachers Retirement System lifted its stake in 1st Source by 12.2% in the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider's stock worth $100,000 after purchasing an additional 182 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of 1st Source during the third quarter valued at approximately $122,000. Institutional investors own 74.45% of the company's stock.

1st Source Trading Down 0.4 %

Shares of SRCE traded down $0.28 during trading hours on Friday, reaching $64.17. 48,129 shares of the company traded hands, compared to its average volume of 68,700. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 12.22 and a beta of 0.80. 1st Source Co. has a 12-month low of $47.30 and a 12-month high of $68.13. The stock's fifty day moving average price is $62.19 and its 200 day moving average price is $58.46. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.05. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. The company had revenue of $97.93 million for the quarter, compared to analysts' expectations of $97.30 million. During the same quarter in the prior year, the firm earned $1.32 earnings per share. Sell-side analysts forecast that 1st Source Co. will post 5.36 earnings per share for the current year.

1st Source Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Tuesday, November 5th. 1st Source's dividend payout ratio (DPR) is presently 27.43%.

1st Source Profile

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.