Geode Capital Management LLC Buys 3,780 Shares of 1st Source Co. (NASDAQ:SRCE)

Geode Capital Management LLC increased its stake in shares of 1st Source Co. (NASDAQ:SRCE) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 433,440 shares of the financial services provider’s stock after purchasing an additional 3,780 shares during the quarter. Geode Capital Management LLC owned about 1.77% of 1st Source worth $25,959,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Thrivent Financial for Lutherans lifted its holdings in 1st Source by 625.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider’s stock worth $1,989,000 after buying an additional 28,648 shares in the last quarter. Harbor Capital Advisors Inc. raised its position 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 worth $1,683,000 after acquiring an additional 13,753 shares during the last quarter. State Street Corp lifted its stake in shares of 1st Source by 1.7% during the third quarter. State Street Corp now owns 567,195 shares of the financial services provider’s stock valued at $33,964,000 after acquiring an additional 9,235 shares during the period. Principal Financial Group Inc. acquired a new position in shares of 1st Source during the third quarter valued at $664,000. Finally, Barclays PLC boosted its holdings in 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 during the last quarter. 74.45% of the stock is owned by institutional investors.

1st Source Price Performance

Shares of SRCE stock opened at $58.64 on Friday. 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 12 month low of $47.30 and a 12 month high of $68.13. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 11.17 and a beta of 0.80. The stock has a 50-day moving average price of $62.69 and a 200 day moving average price of $59.46.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.36 by $0.05. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. The company had revenue of $97.93 million during the quarter, compared to analysts’ expectations of $97.30 million. During the same quarter in the previous year, the company earned $1.32 EPS. Research analysts expect that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Tuesday, November 5th. 1st Source’s payout ratio 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.