New York State Common Retirement Fund Sells 4,700 Shares of 1st Source Corporation (NASDAQ:SRCE)

New York State Common Retirement Fund lessened its holdings in shares of 1st Source Corporation (NASDAQ:SRCE - Free Report) by 11.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,199 shares of the financial services provider's stock after selling 4,700 shares during the quarter. New York State Common Retirement Fund owned 0.15% of 1st Source worth $2,165,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Aquatic Capital Management LLC boosted its holdings in 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 acquiring an additional 315 shares during the last quarter. Financial Life Planners boosted its holdings in shares of 1st Source by 239.1% in the 1st quarter. Financial Life Planners now owns 2,784 shares of the financial services provider's stock worth $166,000 after buying an additional 1,963 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of 1st Source by 143.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,738 shares of the financial services provider's stock worth $218,000 after buying an additional 2,204 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of 1st Source in the 4th quarter worth about $219,000. Finally, Polymer Capital Management US LLC purchased a new position in shares of 1st Source in the 4th quarter worth about $233,000. 74.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SRCE has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on shares of 1st Source from $72.50 to $75.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Weiss Ratings restated a "buy (b)" rating on shares of 1st Source in a research report on Saturday, July 12th.

1st Source Trading Down 1.8%

Shares of NASDAQ:SRCE traded down $1.09 during trading on Friday, reaching $60.90. 106,688 shares of the company traded hands, compared to its average volume of 97,966. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 10.70 and a beta of 0.68. 1st Source Corporation has a 52-week low of $52.14 and a 52-week high of $68.13. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.08. The business's fifty day moving average is $62.02 and its 200-day moving average is $60.96.

1st Source (NASDAQ:SRCE - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.02. The firm had revenue of $108.25 million during the quarter, compared to analyst estimates of $104.67 million. 1st Source had a return on equity of 12.26% and a net margin of 24.17%. As a group, analysts forecast that 1st Source Corporation will post 5.82 EPS for the current year.

1st Source Dividend Announcement

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

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.