Cubist Systematic Strategies LLC reduced its position in 1st Source Co. (NASDAQ:SRCE - Free Report) by 59.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,765 shares of the financial services provider's stock after selling 9,909 shares during the period. Cubist Systematic Strategies LLC's holdings in 1st Source were worth $395,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Barclays PLC raised its position in 1st Source by 162.2% in the 3rd quarter. Barclays PLC now owns 41,525 shares of the financial services provider's stock valued at $2,487,000 after buying an additional 25,687 shares during the last quarter. Franklin Resources Inc. raised its position in 1st Source by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 11,018 shares of the financial services provider's stock valued at $663,000 after buying an additional 750 shares during the last quarter. JPMorgan Chase & Co. raised its position in 1st Source by 36.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 91,019 shares of the financial services provider's stock valued at $5,450,000 after buying an additional 24,470 shares during the last quarter. SG Americas Securities LLC raised its position in 1st Source by 38.3% in the 4th quarter. SG Americas Securities LLC now owns 8,700 shares of the financial services provider's stock valued at $508,000 after buying an additional 2,411 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in 1st Source in the 4th quarter valued at $40,000. 74.45% of the stock is currently owned by institutional investors.
1st Source Trading Down 0.4%
Shares of SRCE opened at $62.35 on Friday. The business has a 50-day moving average of $58.93 and a 200 day moving average of $61.14. 1st Source Co. has a fifty-two week low of $48.97 and a fifty-two week high of $68.13. The firm has a market cap of $1.53 billion, a P/E ratio of 11.63 and a beta of 0.69. 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 announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.16. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. The company had revenue of $104.04 million during the quarter, compared to analyst estimates of $100.97 million. As a group, research analysts forecast that 1st Source Co. will post 5.82 EPS for the current year.
1st Source Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.52 annualized dividend and a yield of 2.44%. This is an increase from 1st Source's previous quarterly dividend of $0.36. 1st Source's dividend payout ratio (DPR) is currently 26.71%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of 1st Source in a research report on Saturday, May 10th. Piper Sandler raised their target price on 1st Source from $72.50 to $75.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods raised their target price on 1st Source from $67.00 to $69.00 and gave the company a "market perform" rating in a research report on Monday, January 27th.
View Our Latest Analysis on 1st Source
1st Source Company Profile
(
Free Report)
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.
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