Raymond James Financial Inc. bought a new stake in 1st Source Co. (NASDAQ:SRCE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,279 shares of the financial services provider's stock, valued at approximately $250,000.
Other large investors have also recently bought and sold shares of the company. R Squared Ltd bought a new position in 1st Source in the fourth quarter valued at about $40,000. Financial Life Planners acquired a new stake in shares of 1st Source in the fourth quarter valued at about $48,000. Jones Financial Companies Lllp increased its stake in shares of 1st Source by 61.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider's stock valued at $71,000 after buying an additional 465 shares during the period. Picton Mahoney Asset Management increased its stake in shares of 1st Source by 105.6% in the fourth quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider's stock valued at $111,000 after buying an additional 977 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of 1st Source in the fourth quarter valued at about $219,000. 74.45% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
SRCE has been the subject of several recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of 1st Source in a research note on Saturday. Piper Sandler increased their price target on 1st Source from $72.50 to $75.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods increased their price target on 1st Source from $67.00 to $69.00 and gave the company a "market perform" rating in a research note on Monday, January 27th.
View Our Latest Report on SRCE
1st Source Trading Down 0.4%
Shares of SRCE stock opened at $61.24 on Monday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 11.43 and a beta of 0.69. The stock has a 50-day moving average of $58.83 and a 200-day moving average of $61.06. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. 1st Source Co. has a 1-year low of $48.97 and a 1-year high of $68.13.
1st Source (NASDAQ:SRCE - Get Free Report) last released 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. 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 analysts' expectations of $100.97 million. On average, equities research analysts forecast that 1st Source Co. will post 5.82 earnings per share for the current year.
1st Source Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a dividend of $0.38 per share. The ex-dividend date is Monday, May 5th. This represents a $1.52 annualized dividend and a yield of 2.48%. This is a boost from 1st Source's previous quarterly dividend of $0.36. 1st Source's dividend payout ratio (DPR) is currently 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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