JPMorgan Chase & Co. Increases Position in 1st Source Co. (NASDAQ:SRCE)

JPMorgan Chase & Co. grew its holdings in 1st Source Co. (NASDAQ:SRCE - Free Report) by 36.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,019 shares of the financial services provider's stock after purchasing an additional 24,470 shares during the period. JPMorgan Chase & Co. owned approximately 0.37% of 1st Source worth $5,450,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC lifted 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 worth $60,000 after purchasing an additional 600 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of 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 buying an additional 182 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of 1st Source in the third quarter worth about $122,000. CWM LLC boosted its position in shares of 1st Source by 122.7% in the third quarter. CWM LLC now owns 3,035 shares of the financial services provider's stock valued at $182,000 after acquiring an additional 1,672 shares during the period. Finally, AMI Investment Management Inc. purchased a new position in 1st Source during the third quarter valued at approximately $206,000. 74.45% of the stock is currently owned by hedge funds and other institutional investors.

1st Source Price Performance

NASDAQ SRCE traded up $0.35 on Friday, hitting $57.85. The stock had a trading volume of 59,248 shares, compared to its average volume of 58,386. The firm has a 50-day moving average of $61.65 and a 200-day moving average of $60.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. 1st Source Co. has a 52-week low of $47.30 and a 52-week high of $68.13. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.02 and a beta of 0.82.

1st Source (NASDAQ:SRCE - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business posted $1.32 earnings per share. Equities analysts expect that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Tuesday, November 5th. 1st Source's payout ratio is 27.43%.

1st Source Company 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.