Readystate Asset Management LP Takes Position in 1st Source Co. (NASDAQ:SRCE)

Readystate Asset Management LP acquired a new stake in 1st Source Co. (NASDAQ:SRCE - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,277 shares of the financial services provider's stock, valued at approximately $675,000.

Several other large investors also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of 1st Source by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 60,417 shares of the financial services provider's stock worth $3,618,000 after buying an additional 600 shares during the last quarter. Centiva Capital LP purchased a new position in shares of 1st Source during the third quarter worth about $273,000. PDT Partners LLC grew its holdings in shares of 1st Source by 46.6% during the third quarter. PDT Partners LLC now owns 6,627 shares of the financial services provider's stock worth $397,000 after buying an additional 2,106 shares during the last quarter. Martingale Asset Management L P grew its holdings in shares of 1st Source by 7.3% during the third quarter. Martingale Asset Management L P now owns 40,323 shares of the financial services provider's stock worth $2,415,000 after buying an additional 2,760 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of 1st Source during the third quarter worth about $122,000. Institutional investors and hedge funds own 74.45% of the company's stock.

1st Source Stock Performance

Shares of NASDAQ SRCE traded down $0.28 during midday trading on Friday, reaching $64.17. 48,129 shares of the company were exchanged, compared to its average volume of 72,349. 1st Source Co. has a 1 year low of $47.30 and a 1 year high of $68.13. The stock has a fifty day simple moving average of $62.07 and a 200 day simple moving average of $58.28. The stock has a market cap of $1.57 billion, a P/E ratio of 12.28 and a beta of 0.80. 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 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 analyst estimates of $97.30 million. During the same quarter in the previous year, the company earned $1.32 EPS. On average, research analysts forecast that 1st Source Co. will post 5.36 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The business also recently declared 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. The ex-dividend date was Tuesday, November 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.24%. 1st Source's payout ratio is 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.