Northern Trust Corp increased its position in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,434 shares of the financial services provider's stock after purchasing an additional 9,165 shares during the period. Northern Trust Corp owned 0.75% of 1st Source worth $10,767,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRCE. Barclays PLC raised its holdings in 1st Source by 162.2% during the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider's stock worth $2,487,000 after purchasing an additional 25,687 shares in the last quarter. Franklin Resources Inc. raised its holdings in 1st Source by 7.3% during the third quarter. Franklin Resources Inc. now owns 11,018 shares of the financial services provider's stock worth $663,000 after purchasing an additional 750 shares in the last quarter. SG Americas Securities LLC raised its holdings in 1st Source by 38.3% during the fourth quarter. SG Americas Securities LLC now owns 8,700 shares of the financial services provider's stock worth $508,000 after purchasing an additional 2,411 shares in the last quarter. R Squared Ltd bought a new stake in 1st Source during the fourth quarter worth approximately $40,000. Finally, Financial Life Planners bought a new stake in 1st Source during the fourth quarter worth approximately $48,000. Institutional investors own 74.45% of the company's stock.
1st Source Price Performance
1st Source stock traded down $0.40 during mid-day trading on Friday, hitting $60.13. The company's stock had a trading volume of 72,885 shares, compared to its average volume of 86,186. 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 stock has a market capitalization of $1.48 billion, a P/E ratio of 11.22 and a beta of 0.69. 1st Source Co. has a twelve month low of $48.97 and a twelve month high of $68.13. The stock's fifty day moving average price is $58.94 and its two-hundred day moving average price is $61.20.
1st Source (NASDAQ:SRCE - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.16. The firm 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%. Research analysts forecast that 1st Source Co. will post 5.82 earnings per share for the current year.
1st Source Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.53%. This is a boost 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%.
Analysts Set New Price Targets
Several research analysts have issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of 1st Source in a research report on Saturday, May 10th. Piper Sandler lifted their price target on shares of 1st Source from $72.50 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of 1st Source from $67.00 to $69.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th.
Get Our Latest Stock Analysis on 1st Source
About 1st Source
(
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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