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Cerity Partners LLC Acquires New Stake in 1st Source Corporation (NASDAQ:SRCE)

1st Source logo with Finance background

Cerity Partners LLC acquired a new position in 1st Source Corporation (NASDAQ:SRCE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,198 shares of the financial services provider's stock, valued at approximately $610,000.

A number of other institutional investors have also added to or reduced their stakes in SRCE. Valeo Financial Advisors LLC grew its stake in shares of 1st Source by 2.5% in the first quarter. Valeo Financial Advisors LLC now owns 10,378 shares of the financial services provider's stock worth $621,000 after acquiring an additional 254 shares during the last quarter. Values First Advisors Inc. grew its stake in shares of 1st Source by 0.9% in the first quarter. Values First Advisors Inc. now owns 36,138 shares of the financial services provider's stock worth $2,163,000 after acquiring an additional 323 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of 1st Source by 3.6% in the first quarter. Principal Financial Group Inc. now owns 12,526 shares of the financial services provider's stock worth $749,000 after acquiring an additional 430 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of 1st Source in the first quarter worth $398,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 1st Source by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,785 shares of the financial services provider's stock worth $831,000 after acquiring an additional 1,544 shares during the last quarter. Institutional investors own 74.45% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler increased their price objective on 1st Source from $72.50 to $75.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of 1st Source in a research report on Saturday, July 12th.

Get Our Latest Stock Report on SRCE

1st Source Stock Performance

Shares of NASDAQ SRCE traded down $1.09 during trading on Friday, hitting $60.90. The company had a trading volume of 106,688 shares, compared to its average volume of 77,689. The stock has a 50 day simple moving average of $61.99 and a 200 day simple moving average of $60.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.95 and a current ratio of 0.95. 1st Source Corporation has a 12 month low of $52.14 and a 12 month high of $68.13. The firm has a market capitalization of $1.50 billion, a P/E ratio of 10.67 and a beta of 0.68.

1st Source (NASDAQ:SRCE - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.02. The company had revenue of $108.25 million for the quarter, compared to the consensus estimate of $104.67 million. 1st Source had a return on equity of 12.10% and a net margin of 24.02%. As a group, analysts anticipate that 1st Source Corporation will post 5.82 earnings per share for the current year.

1st Source Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Tuesday, August 5th. 1st Source's dividend payout ratio (DPR) is 26.71%.

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.

See Also

Institutional Ownership by Quarter for 1st Source (NASDAQ:SRCE)

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