Harbor Capital Advisors Inc. Buys 13,753 Shares of 1st Source Co. (NASDAQ:SRCE)

Harbor Capital Advisors Inc. increased its position in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 95.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,110 shares of the financial services provider's stock after buying an additional 13,753 shares during the period. Harbor Capital Advisors Inc. owned 0.11% of 1st Source worth $1,683,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of 1st Source by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,588,461 shares of the financial services provider's stock worth $85,171,000 after buying an additional 11,465 shares in the last quarter. Reinhart Partners LLC. grew its holdings in 1st Source by 0.3% during the 2nd quarter. Reinhart Partners LLC. now owns 238,254 shares of the financial services provider's stock valued at $12,775,000 after buying an additional 818 shares in the last quarter. American Century Companies Inc. lifted its position in 1st Source by 11.5% in the second quarter. American Century Companies Inc. now owns 174,688 shares of the financial services provider's stock valued at $9,367,000 after purchasing an additional 18,049 shares during the last quarter. Renaissance Technologies LLC grew its stake in 1st Source by 9.6% in the second quarter. Renaissance Technologies LLC now owns 145,714 shares of the financial services provider's stock worth $7,813,000 after purchasing an additional 12,774 shares during the period. Finally, Denali Advisors LLC lifted its holdings in shares of 1st Source by 47.0% during the second quarter. Denali Advisors LLC now owns 105,100 shares of the financial services provider's stock valued at $5,635,000 after purchasing an additional 33,600 shares in the last quarter. 74.45% of the stock is currently owned by institutional investors and hedge funds.

1st Source Stock Performance

SRCE traded up $7.02 during trading on Wednesday, hitting $67.29. The stock had a trading volume of 243,133 shares, compared to its average volume of 72,598. The firm has a market cap of $1.65 billion, a PE ratio of 11.48 and a beta of 0.78. 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 Co. has a 12 month low of $46.08 and a 12 month high of $67.68. The company has a 50 day simple moving average of $59.57 and a 200-day simple moving average of $56.22.

1st Source (NASDAQ:SRCE - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.05. The business had revenue of $97.93 million during the quarter, compared to analysts' expectations of $97.30 million. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. During the same period last year, the business earned $1.32 earnings per share. Analysts expect that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Tuesday, November 5th. 1st Source's dividend payout ratio (DPR) is currently 27.43%.

Analyst Ratings Changes

SRCE has been the subject of a number of research analyst reports. Piper Sandler lowered 1st Source from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $60.00 to $67.50 in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $62.00 price target (up from $54.00) on shares of 1st Source in a research note on Monday, July 29th.

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.