12,804 Shares in 1st Source Co. (NASDAQ:SRCE) Acquired by Vest Financial LLC

Vest Financial LLC acquired a new stake in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 12,804 shares of the financial services provider's stock, valued at approximately $766,000. Vest Financial LLC owned approximately 0.05% of 1st Source at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Nuveen Asset Management LLC boosted its holdings in shares of 1st Source by 154.4% during the 4th quarter. Nuveen Asset Management LLC now owns 139,017 shares of the financial services provider's stock worth $8,116,000 after purchasing an additional 84,378 shares during the last quarter. Millennium Management LLC raised its holdings in shares of 1st Source by 34.3% during the 4th quarter. Millennium Management LLC now owns 203,856 shares of the financial services provider's stock worth $11,901,000 after acquiring an additional 52,110 shares during the period. Norges Bank acquired a new position in shares of 1st Source during the 4th quarter valued at about $2,984,000. JPMorgan Chase & Co. boosted its position in shares of 1st Source by 35.4% during the 4th 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 last quarter. Finally, American Century Companies Inc. grew its holdings in shares of 1st Source by 30.5% in 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 purchasing an additional 27,966 shares during the period. Institutional investors and hedge funds own 74.45% of the company's stock.

1st Source Trading Up 0.3%

Shares of 1st Source stock traded up $0.17 during trading hours on Thursday, hitting $61.98. The company's stock had a trading volume of 82,105 shares, compared to its average volume of 87,251. The firm has a fifty day moving average of $59.11 and a 200-day moving average of $60.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 11.56 and a beta of 0.68. 1st Source Co. has a twelve month low of $49.07 and a twelve month high of $68.13.

1st Source (NASDAQ:SRCE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.16. The business had revenue of $104.04 million for the quarter, compared to the consensus estimate of $100.97 million. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. Research analysts forecast that 1st Source Co. will post 5.82 EPS for the current year.

1st Source Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from 1st Source's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.45%. 1st Source's payout ratio is presently 26.71%.

Analysts Set New Price Targets

A number of brokerages have commented on SRCE. Piper Sandler lifted their target price on shares of 1st Source from $72.50 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of 1st Source in a research report on Wednesday.

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.