6,901 Shares in 1st Source Co. (NASDAQ:SRCE) Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. acquired a new position in shares of 1st Source Co. (NASDAQ:SRCE) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,901 shares of the financial services provider’s stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRCE. Isthmus Partners LLC lifted its position in 1st Source by 3.0% during the 2nd quarter. Isthmus Partners LLC now owns 66,920 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 1,943 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of 1st Source during the 1st quarter valued at approximately $48,000. nVerses Capital LLC raised its position in shares of 1st Source by 150.0% during the 3rd quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 600 shares in the last quarter. CWM LLC increased its position in 1st Source by 726.1% in the second quarter. CWM LLC now owns 1,363 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,198 shares during the period. Finally, New York State Teachers Retirement System increased its position in 1st Source by 12.2% in the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock worth $100,000 after buying an additional 182 shares during the period. Hedge funds and other institutional investors own 74.45% of the company’s stock.

1st Source Price Performance

Shares of NASDAQ SRCE opened at $64.89 on Friday. 1st Source Co. has a 1-year low of $47.30 and a 1-year high of $68.13. The firm has a market capitalization of $1.59 billion, a PE ratio of 12.36 and a beta of 0.78. The business’s fifty day moving average price is $61.51 and its two-hundred day moving average price is $57.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94.

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

1st Source Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.22%. The ex-dividend date was Tuesday, November 5th. 1st Source’s dividend payout ratio is currently 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.