821 Shares in 1st Source Co. (NASDAQ:SRCE) Purchased by Financial Life Planners

Financial Life Planners bought a new position in 1st Source Co. (NASDAQ:SRCE) during the fourth quarter, Holdings Channel reports. The institutional investor bought 821 shares of the financial services provider’s stock, valued at approximately $48,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SRCE. New York State Teachers Retirement System lifted its holdings in shares of 1st Source by 12.2% in the 3rd quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 182 shares during the last quarter. Inspire Investing LLC increased its position in 1st Source by 4.4% in the third quarter. Inspire Investing LLC now owns 6,908 shares of the financial services provider’s stock worth $414,000 after buying an additional 293 shares during the period. nVerses Capital LLC lifted its stake in 1st Source by 150.0% in the third quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock valued at $60,000 after buying an additional 600 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of 1st Source by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 60,417 shares of the financial services provider’s stock valued at $3,618,000 after acquiring an additional 600 shares during the period. Finally, R Squared Ltd bought a new position in shares of 1st Source during the fourth quarter worth about $40,000. 74.45% of the stock is currently owned by institutional investors and hedge funds.

1st Source Stock Performance

SRCE stock opened at $62.58 on Tuesday. The company has a 50-day simple moving average of $60.48 and a 200 day simple moving average of $60.53. The company has a market capitalization of $1.53 billion, a P/E ratio of 11.68 and a beta of 0.81. 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 fifty-two week low of $47.30 and a fifty-two week high of $68.13.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 12.07%. Sell-side analysts predict that 1st Source Co. will post 5.82 earnings per share for the current fiscal year.

1st Source Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, February 4th. 1st Source’s dividend payout ratio (DPR) is presently 26.87%.

Wall Street Analysts Forecast Growth

SRCE has been the topic of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of 1st Source in a research report on Saturday. Keefe, Bruyette & Woods boosted their price objective on 1st Source from $67.00 to $69.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Finally, Piper Sandler upgraded 1st Source from a “neutral” rating to an “overweight” rating and raised their target price for the company from $70.00 to $72.50 in a research report on Monday, January 27th.

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.