UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 6,911 Shares of 1st Source Co. (NASDAQ:SRCE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 1st Source Co. (NASDAQ:SRCE - Free Report) by 37.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,596 shares of the financial services provider's stock after acquiring an additional 6,911 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of 1st Source worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Valeo Financial Advisors LLC lifted its stake in 1st Source by 2.2% during the fourth quarter. Valeo Financial Advisors LLC now owns 10,124 shares of the financial services provider's stock valued at $591,000 after purchasing an additional 221 shares during the last quarter. Aquatic Capital Management LLC boosted its stake 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 acquiring an additional 315 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of 1st Source by 0.6% during the 4th quarter. Isthmus Partners LLC now owns 54,649 shares of the financial services provider's stock worth $3,190,000 after acquiring an additional 328 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 1st Source by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,444 shares of the financial services provider's stock worth $610,000 after acquiring an additional 388 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position 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 purchasing an additional 465 shares during the period. Institutional investors and hedge funds own 74.45% of the company's stock.

1st Source Stock Up 0.3%

NASDAQ:SRCE traded up $0.17 on Thursday, hitting $61.98. 82,105 shares of the company's stock traded hands, compared to its average volume of 87,251. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.52 billion, a PE ratio of 11.56 and a beta of 0.68. The firm has a 50-day moving average price of $59.11 and a 200-day moving average price of $60.78. 1st Source Co. has a 1 year low of $49.07 and a 1 year high of $68.13.

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 for the quarter, topping analysts' consensus estimates of $1.36 by $0.16. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. The business had revenue of $104.04 million for the quarter, compared to the consensus estimate of $100.97 million. Equities analysts anticipate 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. Investors 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 2.45%. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from 1st Source's previous quarterly dividend of $0.36. 1st Source's dividend payout ratio (DPR) is presently 26.71%.

Analyst Upgrades and Downgrades

SRCE has been the topic of several recent analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of 1st Source in a report on Wednesday. Piper Sandler raised their price objective on shares of 1st Source from $72.50 to $75.00 and gave the stock an "overweight" rating in a research note 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.