Renaissance Technologies LLC Sells 6,300 Shares of 1st Source Co. (NASDAQ:SRCE)

Renaissance Technologies LLC reduced its holdings in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,014 shares of the financial services provider's stock after selling 6,300 shares during the period. Renaissance Technologies LLC owned 0.58% of 1st Source worth $8,291,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in 1st Source in the 4th quarter valued at about $2,984,000. JPMorgan Chase & Co. grew its stake in 1st Source by 35.4% in the fourth quarter. JPMorgan Chase & Co. now owns 123,276 shares of the financial services provider's stock valued at $7,197,000 after acquiring an additional 32,257 shares during the period. American Century Companies Inc. increased its holdings in shares of 1st Source by 30.5% during the fourth quarter. American Century Companies Inc. now owns 119,639 shares of the financial services provider's stock valued at $6,985,000 after acquiring an additional 27,966 shares in the last quarter. Barclays PLC raised its position in shares of 1st Source by 162.2% during the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider's stock worth $2,487,000 after purchasing an additional 25,687 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of 1st Source by 91.3% in the 4th quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider's stock worth $3,123,000 after purchasing an additional 25,528 shares in the last quarter. 74.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of 1st Source from $67.00 to $69.00 and gave the company a "market perform" rating in a research report on Monday, January 27th. Piper Sandler upgraded 1st Source from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $70.00 to $72.50 in a report on Monday, January 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of 1st Source in a research note on Tuesday, April 8th.

1st Source Stock Up 1.7 %

NASDAQ:SRCE traded up $0.96 on Wednesday, hitting $57.22. The stock had a trading volume of 9,024 shares, compared to its average volume of 81,964. 1st Source Co. has a 1 year low of $48.91 and a 1 year high of $68.13. The firm's fifty day simple moving average is $60.11 and its two-hundred day simple moving average is $61.05. The stock has a market cap of $1.40 billion, a P/E ratio of 10.68 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.

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

1st Source Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.44 annualized dividend and a yield of 2.52%. 1st Source's payout ratio is currently 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.