UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 1st Source Co. (NASDAQ:SRCE - Free Report) by 37.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,596 shares of the financial services provider's stock after purchasing an additional 6,911 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of 1st Source worth $1,494,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of 1st Source by 61.4% during the 4th 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 in the last quarter. Picton Mahoney Asset Management raised its position in 1st Source by 105.6% during the fourth quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider's stock valued at $111,000 after acquiring an additional 977 shares in the last quarter. Aquatic Capital Management LLC raised its position in 1st Source by 14.3% during the fourth quarter. Aquatic Capital Management LLC now owns 2,515 shares of the financial services provider's stock valued at $147,000 after acquiring an additional 315 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in 1st Source by 143.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,738 shares of the financial services provider's stock valued at $218,000 after acquiring an additional 2,204 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in 1st Source in the fourth quarter worth approximately $219,000. Institutional investors and hedge funds own 74.45% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on SRCE shares. Piper Sandler lifted their price objective on shares of 1st Source from $72.50 to $75.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of 1st Source in a research report on Saturday, May 24th.
Check Out Our Latest Stock Report on SRCE
1st Source Trading Up 2.0%
NASDAQ:SRCE opened at $61.11 on Monday. The company's 50 day moving average is $58.83 and its 200-day moving average is $60.80. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. 1st Source Co. has a 12 month low of $48.97 and a 12 month high of $68.13. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 11.40 and a beta of 0.68.
1st Source (NASDAQ:SRCE - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $1.52 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 net margin of 23.10% and a return on equity of 11.92%. Equities analysts anticipate that 1st Source Co. will post 5.82 EPS for the current 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 paid a $0.38 dividend. The ex-dividend date was Monday, May 5th. This is a positive change 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 2.49%. 1st Source's payout ratio is presently 26.71%.
1st Source Company Profile
(
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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