Squarepoint Ops LLC bought a new stake in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,589 shares of the financial services provider's stock, valued at approximately $793,000. Squarepoint Ops LLC owned about 0.06% of 1st Source at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in shares of 1st Source in the fourth quarter valued at $40,000. Financial Life Planners bought a new position in 1st Source during the fourth quarter worth about $48,000. Jones Financial Companies Lllp increased its holdings in shares of 1st Source by 61.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider's stock worth $71,000 after buying an additional 465 shares in the last quarter. Picton Mahoney Asset Management raised 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 grew 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 period. 74.45% of the stock is owned by institutional investors.
1st Source Price Performance
NASDAQ SRCE traded down $0.02 during trading on Thursday, reaching $59.94. The company's stock had a trading volume of 61,057 shares, compared to its average volume of 86,866. The firm has a fifty day moving average of $58.80 and a 200 day moving average of $60.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. 1st Source Co. has a one year low of $48.97 and a one year high of $68.13. The stock has a market capitalization of $1.47 billion, a PE ratio of 11.18 and a beta of 0.69.
1st Source (NASDAQ:SRCE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.16. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. The business had revenue of $104.04 million during the quarter, compared to analyst estimates of $100.97 million. Analysts expect that 1st Source Co. will post 5.82 EPS for the current fiscal year.
1st Source Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $0.38 dividend. The ex-dividend date was Monday, May 5th. This is a boost from 1st Source's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.54%. 1st Source's payout ratio is 26.71%.
Analysts Set New Price Targets
Several equities research analysts have commented on SRCE shares. Weiss Ratings restated a "buy (b)" rating on shares of 1st Source in a research note on Saturday, May 24th. Piper Sandler increased their target price on 1st Source from $72.50 to $75.00 and gave the stock an "overweight" rating in a report on Monday, April 28th.
Check Out Our Latest Stock Report 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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