1ST Source Bank Sells 886,428 Shares of 1st Source Co. (NASDAQ:SRCE)

1ST Source Bank lowered its position in 1st Source Co. (NASDAQ:SRCE) by 14.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,375,652 shares of the financial services provider’s stock after selling 886,428 shares during the period. 1st Source comprises approximately 18.2% of 1ST Source Bank’s investment portfolio, making the stock its biggest position. 1ST Source Bank owned approximately 0.22% of 1st Source worth $321,894,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. grew its position in shares of 1st Source by 7.3% in the third quarter. Franklin Resources Inc. now owns 11,018 shares of the financial services provider’s stock valued at $663,000 after purchasing an additional 750 shares during the period. Geode Capital Management LLC raised its holdings in shares of 1st Source by 0.9% during the third quarter. Geode Capital Management LLC now owns 433,440 shares of the financial services provider’s stock valued at $25,959,000 after acquiring an additional 3,780 shares during the last quarter. Barclays PLC lifted its position in shares of 1st Source by 162.2% in the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock valued at $2,487,000 after acquiring an additional 25,687 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of 1st Source during the third quarter worth approximately $266,000. Finally, Jane Street Group LLC lifted its holdings in 1st Source by 152.7% in the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,106,000 after purchasing an additional 21,254 shares in the last quarter. 74.45% of the stock is owned by hedge funds and other institutional investors.

1st Source Price Performance

Shares of 1st Source stock traded down $0.51 during trading hours on Friday, reaching $63.09. 6,733 shares of the company’s stock were exchanged, compared to its average volume of 71,866. The business has a fifty day moving average of $62.64 and a two-hundred day moving average of $58.72. The company has a market capitalization of $1.55 billion, a P/E ratio of 12.11 and a beta of 0.80. 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 1 year low of $47.30 and a 1 year high of $68.13.

1st Source (NASDAQ:SRCE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. The business had revenue of $97.93 million for the quarter, compared to analyst estimates of $97.30 million. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. During the same period last year, the company posted $1.32 EPS. As a group, research analysts predict that 1st Source Co. will post 5.36 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.28%. The ex-dividend date was Tuesday, November 5th. 1st Source’s payout ratio is currently 27.43%.

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.