1st Source Co. (NASDAQ:SRCE) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. grew its position in shares of 1st Source Co. (NASDAQ:SRCE) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,018 shares of the financial services provider’s stock after purchasing an additional 750 shares during the quarter. Franklin Resources Inc.’s holdings in 1st Source were worth $663,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Denali Advisors LLC raised its position in 1st Source by 47.0% in the second quarter. Denali Advisors LLC now owns 105,100 shares of the financial services provider’s stock worth $5,635,000 after acquiring an additional 33,600 shares in the last quarter. Thrivent Financial for Lutherans grew its position in 1st Source by 625.6% in the third 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of 1st Source in the third quarter valued at $1,713,000. Barclays PLC lifted its position in shares of 1st Source by 162.2% during the 3rd 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. Finally, Jane Street Group LLC grew its holdings in shares of 1st Source by 152.7% in the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock worth $2,106,000 after acquiring an additional 21,254 shares during the last quarter. Institutional investors and hedge funds own 74.45% of the company’s stock.

1st Source Trading Down 1.7 %

Shares of NASDAQ SRCE opened at $58.64 on Monday. 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 company has a market cap of $1.44 billion, a price-to-earnings ratio of 11.17 and a beta of 0.80. The business has a fifty day simple moving average of $62.69 and a 200-day simple moving average of $59.53.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $97.30 million. During the same period in the prior year, the firm earned $1.32 earnings per share. Sell-side analysts predict that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Announces Dividend

The firm also recently announced 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 was Tuesday, November 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.46%. 1st Source’s 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.