Tudor Investment Corp ET AL Has $3.37 Million Stock Position in 1st Source Co. (NASDAQ:SRCE)

Tudor Investment Corp ET AL boosted its position in 1st Source Co. (NASDAQ:SRCE - Free Report) by 23.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,695 shares of the financial services provider's stock after purchasing an additional 10,803 shares during the period. Tudor Investment Corp ET AL owned about 0.24% of 1st Source worth $3,368,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SRCE. R Squared Ltd acquired a new position in shares of 1st Source during the fourth quarter worth about $40,000. Financial Life Planners purchased a new stake in shares of 1st Source during the fourth quarter valued at approximately $48,000. Jones Financial Companies Lllp boosted 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 purchasing an additional 465 shares during the period. Picton Mahoney Asset Management grew its holdings in 1st Source by 105.6% during the 4th quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 977 shares in the last quarter. Finally, Aquatic Capital Management LLC increased its stake 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 buying an additional 315 shares during the period. Institutional investors and hedge funds own 74.45% of the company's stock.

1st Source Price Performance

1st Source stock traded up $1.20 during mid-day trading on Thursday, hitting $61.48. 13,849 shares of the company were exchanged, compared to its average volume of 84,011. 1st Source Co. has a 1-year low of $48.97 and a 1-year high of $68.13. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $58.93 and a 200 day moving average of $61.01. The company has a market capitalization of $1.51 billion, a PE ratio of 11.47 and a beta of 0.69.

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, beating analysts' consensus estimates of $1.36 by $0.16. The company 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%. As a group, sell-side analysts expect that 1st Source Co. will post 5.82 earnings per share for the current year.

1st Source Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, May 5th. 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%.

Analyst Ratings Changes

Several brokerages have weighed in on SRCE. Keefe, Bruyette & Woods raised their price objective on shares of 1st Source from $67.00 to $69.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Weiss Ratings restated a "buy (b)" rating on shares of 1st Source in a research report on Thursday, April 24th. Finally, Piper Sandler boosted their target price on 1st Source from $72.50 to $75.00 and gave the company an "overweight" rating in a research note on Monday, April 28th.

About 1st Source

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.