1st Source Co. (NASDAQ:SRCE) Shares Purchased by State Street Corp

State Street Corp boosted its position in 1st Source Co. (NASDAQ:SRCE - Free Report) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 567,195 shares of the financial services provider's stock after purchasing an additional 9,235 shares during the quarter. State Street Corp owned about 2.31% of 1st Source worth $33,964,000 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. Denali Advisors LLC raised its position in shares of 1st Source by 47.0% in the second quarter. Denali Advisors LLC now owns 105,100 shares of the financial services provider's stock valued at $5,635,000 after buying an additional 33,600 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in 1st Source by 625.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider's stock worth $1,989,000 after acquiring an additional 28,648 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in 1st Source in the 3rd quarter valued at $1,713,000. American Century Companies Inc. raised its holdings in 1st Source by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 174,688 shares of the financial services provider's stock valued at $9,367,000 after acquiring an additional 18,049 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of 1st Source by 95.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 28,110 shares of the financial services provider's stock worth $1,683,000 after purchasing an additional 13,753 shares during the period. 74.45% of the stock is currently owned by hedge funds and other institutional investors.

1st Source Trading Down 0.3 %

Shares of NASDAQ:SRCE traded down $0.16 during midday trading on Friday, reaching $59.15. The company's stock had a trading volume of 194,265 shares, compared to its average volume of 72,421. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 11.27 and a beta of 0.80. The business has a 50 day moving average price of $62.90 and a 200 day moving average price of $59.22. 1st Source Co. has a 1 year low of $47.30 and a 1 year high of $68.13. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.36 by $0.05. The company had revenue of $97.93 million during the quarter, compared to analysts' expectations of $97.30 million. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. During the same quarter in the previous year, the business earned $1.32 EPS. Research analysts forecast that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Tuesday, November 5th. 1st Source's dividend payout ratio is currently 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.