Jane Street Group LLC lowered its holdings in 1st Source Co. (NASDAQ:SRCE - Free Report) by 54.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,937 shares of the financial services provider's stock after selling 19,232 shares during the quarter. Jane Street Group LLC owned 0.07% of 1st Source worth $930,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in shares of 1st Source in the fourth quarter worth $40,000. Financial Life Planners bought a new stake in 1st Source in the 4th quarter valued at $48,000. Jones Financial Companies Lllp boosted its holdings in 1st Source by 61.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider's stock valued at $71,000 after purchasing an additional 465 shares during the period. Picton Mahoney Asset Management grew its position in 1st Source by 105.6% in the 4th quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider's stock worth $111,000 after purchasing an additional 977 shares during the last quarter. Finally, Aquatic Capital Management LLC increased its holdings in shares of 1st Source by 14.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,515 shares of the financial services provider's stock worth $147,000 after purchasing an additional 315 shares during the period. 74.45% of the stock is owned by institutional investors.
1st Source Stock Performance
SRCE traded down $0.80 during trading on Wednesday, reaching $60.71. 64,967 shares of the company's stock were exchanged, compared to its average volume of 86,286. The company has a market capitalization of $1.49 billion, a P/E ratio of 11.33 and a beta of 0.69. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $58.88 and a 200 day moving average price of $61.10. 1st Source Co. has a fifty-two week low of $48.97 and a fifty-two week high of $68.13.
1st Source (NASDAQ:SRCE - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.16. The business had revenue of $104.04 million for the quarter, compared to analyst estimates of $100.97 million. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. As a group, analysts predict that 1st Source Co. will post 5.82 earnings per share for the current fiscal year.
1st Source Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.50%. This is an increase from 1st Source's previous quarterly dividend of $0.36. The ex-dividend date was Monday, May 5th. 1st Source's payout ratio is presently 26.71%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on SRCE. Piper Sandler increased their target price 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. Weiss Ratings reiterated a "buy (b)" rating on shares of 1st Source in a research report on Saturday.
View Our Latest Stock Report 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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