Y Intercept Hong Kong Ltd Purchases New Position in 1st Source Co. (NASDAQ:SRCE)

Y Intercept Hong Kong Ltd purchased a new stake in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,634 shares of the financial services provider's stock, valued at approximately $854,000. Y Intercept Hong Kong Ltd owned 0.06% of 1st Source as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of SRCE. Charles Schwab Investment Management Inc. increased its stake in 1st Source by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,372 shares of the financial services provider's stock valued at $35,112,000 after buying an additional 1,872 shares during the period. State Street Corp increased its stake in shares of 1st Source by 1.7% during the third quarter. State Street Corp now owns 567,195 shares of the financial services provider's stock valued at $33,964,000 after acquiring an additional 9,235 shares during the period. Geode Capital Management LLC raised its holdings in 1st Source by 0.9% during the third quarter. Geode Capital Management LLC now owns 433,440 shares of the financial services provider's stock worth $25,959,000 after purchasing an additional 3,780 shares in the last quarter. FMR LLC raised its holdings in 1st Source by 6.1% during the third quarter. FMR LLC now owns 120,617 shares of the financial services provider's stock worth $7,223,000 after purchasing an additional 6,981 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in 1st Source by 36.8% in the third quarter. JPMorgan Chase & Co. now owns 91,019 shares of the financial services provider's stock worth $5,450,000 after purchasing an additional 24,470 shares during the period. 74.45% of the stock is currently owned by institutional investors.

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1st Source Trading Down 0.2 %

NASDAQ SRCE traded down $0.10 on Monday, hitting $64.80. 63,811 shares of the stock were exchanged, compared to its average volume of 81,947. The company's 50-day moving average price is $61.24 and its two-hundred day moving average price is $61.23. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 12.09 and a beta of 0.81. 1st Source Co. has a 52-week low of $47.30 and a 52-week high of $68.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94.

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

1st Source Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Tuesday, February 4th. 1st Source's dividend payout ratio (DPR) is currently 26.87%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SRCE shares. Piper Sandler raised 1st Source from a "neutral" rating to an "overweight" rating and boosted their price objective 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 research report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods boosted 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.

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.