1st Source Co. (NASDAQ:SRCE) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in 1st Source Co. (NASDAQ:SRCE - Free Report) by 35.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 123,276 shares of the financial services provider's stock after purchasing an additional 32,257 shares during the quarter. JPMorgan Chase & Co. owned about 0.50% of 1st Source worth $7,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SRCE. R Squared Ltd acquired a new position in shares of 1st Source in the fourth quarter valued at approximately $40,000. Financial Life Planners purchased a new stake in 1st Source in the 4th quarter worth approximately $48,000. Jones Financial Companies Lllp raised its holdings in 1st Source by 61.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider's stock valued at $71,000 after acquiring an additional 465 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in shares of 1st Source by 105.6% during the fourth quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider's stock worth $111,000 after purchasing an additional 977 shares during the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of 1st Source in the fourth quarter valued at $250,000. 74.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on SRCE shares. Piper Sandler raised 1st Source from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $70.00 to $72.50 in a research note on Monday, January 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of 1st Source in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped their price objective on 1st Source from $67.00 to $69.00 and gave the stock a "market perform" rating in a report on Monday, January 27th.

1st Source Stock Up 3.7 %

1st Source stock traded up $2.01 during trading on Tuesday, reaching $56.26. 138,503 shares of the company's stock were exchanged, compared to its average volume of 82,254. 1st Source Co. has a 52-week low of $48.91 and a 52-week high of $68.13. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 10.50 and a beta of 0.67. 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 company's 50-day moving average is $60.11 and its two-hundred day moving average is $61.05.

1st Source (NASDAQ:SRCE - Get Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. On average, analysts predict that 1st Source Co. will post 5.82 earnings per share for the current year.

1st Source Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Tuesday, February 4th. 1st Source's payout ratio is 26.87%.

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.