Nuveen Asset Management LLC Purchases 84,378 Shares of 1st Source Co. (NASDAQ:SRCE)

Nuveen Asset Management LLC increased its stake in 1st Source Co. (NASDAQ:SRCE - Free Report) by 154.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,017 shares of the financial services provider's stock after purchasing an additional 84,378 shares during the quarter. Nuveen Asset Management LLC owned about 0.57% of 1st Source worth $8,116,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Deutsche Bank AG raised its position in 1st Source by 59.5% in the fourth quarter. Deutsche Bank AG now owns 16,626 shares of the financial services provider's stock worth $971,000 after acquiring an additional 6,203 shares in the last quarter. Sei Investments Co. raised its position in 1st Source by 91.3% in the fourth quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider's stock worth $3,123,000 after acquiring an additional 25,528 shares in the last quarter. Northern Trust Corp raised its position in 1st Source by 5.2% in the fourth quarter. Northern Trust Corp now owns 184,434 shares of the financial services provider's stock worth $10,767,000 after acquiring an additional 9,165 shares in the last quarter. Barclays PLC raised its position in 1st Source by 162.2% in the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider's stock worth $2,487,000 after acquiring an additional 25,687 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in 1st Source by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,941 shares of the financial services provider's stock worth $34,616,000 after acquiring an additional 6,569 shares in the last quarter. Institutional investors and hedge funds own 74.45% of the company's stock.

1st Source Trading Down 0.6%

NASDAQ SRCE traded down $0.36 on Monday, hitting $60.20. 68,903 shares of the company were exchanged, compared to its average volume of 86,557. The company's 50 day moving average price is $58.81 and its 200-day moving average price is $60.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $1.48 billion, a P/E ratio of 11.23 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.

1st Source (NASDAQ:SRCE - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $100.97 million. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. 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 annualized dividend and a yield of 2.52%. The ex-dividend date was Monday, May 5th. This is an increase from 1st Source's previous quarterly dividend of $0.36. 1st Source's payout ratio is presently 26.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SRCE shares. Weiss Ratings reiterated a "buy (b)" rating on shares of 1st Source in a research report on Saturday, May 24th. 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 research report on Monday, April 28th.

1st Source Company 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.