Chicago Equity Partners LLC grew its holdings in 1st Source Corporation (NASDAQ:SRCE) by 112.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,465 shares of the financial services provider’s stock after acquiring an additional 17,195 shares during the quarter. Chicago Equity Partners LLC owned 0.13% of 1st Source Corporation worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in 1st Source Corporation by 3.8% in the second quarter. Vanguard Group Inc. now owns 711,898 shares of the financial services provider’s stock worth $34,129,000 after purchasing an additional 26,341 shares during the period. Alliancebernstein L.P. lifted its position in 1st Source Corporation by 10.3% in the second quarter. Alliancebernstein L.P. now owns 574,353 shares of the financial services provider’s stock worth $27,534,000 after purchasing an additional 53,820 shares during the period. Janus Henderson Group PLC bought a new position in 1st Source Corporation in the second quarter worth $18,196,000. State Street Corp lifted its position in 1st Source Corporation by 5.5% in the second quarter. State Street Corp now owns 306,993 shares of the financial services provider’s stock worth $14,714,000 after purchasing an additional 16,134 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in 1st Source Corporation by 3.1% in the second quarter. JPMorgan Chase & Co. now owns 288,115 shares of the financial services provider’s stock worth $13,812,000 after purchasing an additional 8,754 shares during the period. 70.37% of the stock is owned by institutional investors.
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1st Source Corporation (NASDAQ SRCE) opened at $48.67 on Tuesday. The stock has a market capitalization of $1,245.97, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. 1st Source Corporation has a twelve month low of $36.29 and a twelve month high of $53.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93.
1st Source Corporation (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. The company had revenue of $72.82 million during the quarter, compared to analysts’ expectations of $70.20 million. 1st Source Corporation had a return on equity of 9.43% and a net margin of 21.74%. equities research analysts anticipate that 1st Source Corporation will post 2.6 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, November 3rd. This is a boost from 1st Source Corporation’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.64%. 1st Source Corporation’s dividend payout ratio (DPR) is presently 32.00%.
Several research analysts recently commented on the company. Zacks Investment Research raised 1st Source Corporation from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Wednesday, October 25th. DA Davidson reaffirmed a “hold” rating and issued a $53.00 target price on shares of 1st Source Corporation in a research report on Monday, October 23rd. They noted that the move was a valuation call. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 target price on shares of 1st Source Corporation in a research report on Tuesday, October 3rd. Piper Jaffray Companies set a $55.00 target price on 1st Source Corporation and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, ValuEngine raised 1st Source Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. 1st Source Corporation has a consensus rating of “Hold” and a consensus price target of $53.25.
1st Source Corporation Company Profile
1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.
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