Isthmus Partners LLC Sells 12,599 Shares of 1st Source Co. (NASDAQ:SRCE)

Isthmus Partners LLC reduced its stake in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 18.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,321 shares of the financial services provider's stock after selling 12,599 shares during the period. Isthmus Partners LLC owned 0.22% of 1st Source worth $3,253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in shares of 1st Source during the third quarter worth about $122,000. FMR LLC increased its position in 1st Source by 6.1% during the 3rd quarter. FMR LLC now owns 120,617 shares of the financial services provider's stock valued at $7,223,000 after purchasing an additional 6,981 shares during the period. Alpha DNA Investment Management LLC bought a new position in 1st Source during the 3rd quarter worth approximately $466,000. Charles Schwab Investment Management Inc. lifted its position in shares of 1st Source by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,372 shares of the financial services provider's stock worth $35,112,000 after purchasing an additional 1,872 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of 1st Source in the 3rd quarter valued at $1,713,000. 74.45% of the stock is owned by institutional investors and hedge funds.

1st Source Stock Performance

SRCE stock remained flat at $64.89 during midday trading on Friday. 57,621 shares of the company traded hands, compared to its average volume of 72,423. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 12.34 and a beta of 0.78. The company's fifty day moving average price is $61.51 and its two-hundred day moving average price is $57.85. 1st Source Co. has a 1-year low of $47.30 and a 1-year high of $68.13.

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, beating analysts' consensus estimates 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 the consensus estimate of $97.30 million. During the same period in the previous year, the business earned $1.32 EPS. On average, equities analysts anticipate that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Tuesday, November 5th. 1st Source's dividend payout ratio (DPR) is 27.43%.

About 1st Source

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.