Charles Schwab Investment Management Inc. Purchases 1,872 Shares of 1st Source Co. (NASDAQ:SRCE)

Charles Schwab Investment Management Inc. increased its position in 1st Source Co. (NASDAQ:SRCE) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 586,372 shares of the financial services provider’s stock after purchasing an additional 1,872 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.39% of 1st Source worth $35,112,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Denali Advisors LLC raised its stake in shares of 1st Source by 47.0% in the 2nd 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 in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of 1st Source by 625.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider’s stock worth $1,989,000 after purchasing an additional 28,648 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of 1st Source during the 3rd quarter worth about $1,713,000. American Century Companies Inc. boosted its position in 1st Source by 11.5% in 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 in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in 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 worth $1,683,000 after buying an additional 13,753 shares during the last quarter. Institutional investors and hedge funds own 74.45% of the company’s stock.

1st Source Stock Down 0.3 %

Shares of SRCE opened at $64.71 on Tuesday. The business’s 50 day simple moving average is $61.60 and its 200-day simple moving average is $58.02. 1st Source Co. has a one year low of $47.30 and a one year high of $68.13. The company has a market capitalization of $1.59 billion, a P/E ratio of 12.29 and a beta of 0.78. 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 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 during the quarter, compared to analyst estimates of $97.30 million. During the same period last year, the company posted $1.32 earnings per share. As a group, sell-side analysts predict that 1st Source Co. will post 5.36 EPS for the current fiscal year.

1st Source Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.44 annualized dividend and a yield of 2.23%. 1st Source’s dividend 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.