Allspring Global Investments Holdings LLC bought a new position in shares of 1st Source Corporation (NASDAQ:SRCE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,640 shares of the financial services provider's stock, valued at approximately $398,000.
Several other hedge funds also recently made changes to their positions in SRCE. Nuveen Asset Management LLC increased its holdings in shares of 1st Source by 154.4% during the fourth 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 period. Millennium Management LLC increased its holdings in shares of 1st Source by 34.3% during the fourth quarter. Millennium Management LLC now owns 203,856 shares of the financial services provider's stock worth $11,901,000 after purchasing an additional 52,110 shares during the period. Norges Bank bought a new position in shares of 1st Source during the fourth quarter worth approximately $2,984,000. JPMorgan Chase & Co. increased its holdings in shares of 1st Source by 35.4% during the fourth quarter. JPMorgan Chase & Co. now owns 123,276 shares of the financial services provider's stock worth $7,197,000 after purchasing an additional 32,257 shares during the period. Finally, 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 worth $6,985,000 after purchasing an additional 27,966 shares during the period. 74.45% of the stock is owned by institutional investors.
1st Source Price Performance
NASDAQ:SRCE traded down $1.04 during mid-day trading on Friday, reaching $64.09. The stock had a trading volume of 65,278 shares, compared to its average volume of 91,173. The stock has a 50-day simple moving average of $61.67 and a two-hundred day simple moving average of $60.62. The stock has a market capitalization of $1.57 billion, a PE ratio of 11.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.95 and a quick ratio of 0.95. 1st Source Corporation has a 12 month low of $52.14 and a 12 month high of $68.13.
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 (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 analysts' expectations of $100.97 million. 1st Source had a net margin of 24.17% and a return on equity of 12.26%. On average, equities analysts anticipate that 1st Source Corporation will post 5.82 earnings per share 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 given a $0.38 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.37%. This is a positive change from 1st Source's previous quarterly dividend of $0.36. 1st Source's dividend payout ratio (DPR) is currently 26.71%.
Analyst Ratings Changes
Several brokerages have recently commented on SRCE. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of 1st Source in a report on Friday, June 27th. Piper Sandler lifted their price objective on shares of 1st Source from $72.50 to $75.00 and gave the company an "overweight" rating in a research note on Monday, April 28th.
Get Our Latest Stock 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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