1st Source Co. (NASDAQ:SRCE) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its stake in 1st Source Co. (NASDAQ:SRCE) by 625.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,227 shares of the financial services provider’s stock after acquiring an additional 28,648 shares during the period. Thrivent Financial for Lutherans owned 0.14% of 1st Source worth $1,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Denali Advisors LLC raised its holdings in shares of 1st Source by 47.0% during the second quarter. Denali Advisors LLC now owns 105,100 shares of the financial services provider’s stock valued at $5,635,000 after buying an additional 33,600 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of 1st Source by 11.5% during the second quarter. American Century Companies Inc. now owns 174,688 shares of the financial services provider’s stock valued at $9,367,000 after buying an additional 18,049 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of 1st Source by 95.8% during the third quarter. Harbor Capital Advisors Inc. now owns 28,110 shares of the financial services provider’s stock valued at $1,683,000 after buying an additional 13,753 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of 1st Source by 9.6% during the second quarter. Renaissance Technologies LLC now owns 145,714 shares of the financial services provider’s stock valued at $7,813,000 after buying an additional 12,774 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of 1st Source by 17.4% during the second quarter. AQR Capital Management LLC now owns 81,494 shares of the financial services provider’s stock valued at $4,370,000 after buying an additional 12,067 shares during the last quarter. 74.45% of the stock is currently owned by institutional investors and hedge funds.

1st Source Stock Performance

SRCE opened at $64.89 on Friday. The business’s 50 day moving average is $61.44 and its 200-day moving average is $57.81. The stock has a market cap of $1.59 billion, a PE ratio of 12.36 and a beta of 0.78. 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 twelve month low of $47.30 and a twelve month high of $68.13.

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

1st Source Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.22%. 1st Source’s dividend payout ratio (DPR) is 27.43%.

1st Source 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.