JPMorgan Chase & Co. Boosts Holdings in 1st Source Co. (NASDAQ:SRCE)

JPMorgan Chase & Co. raised its stake in 1st Source Co. (NASDAQ:SRCE) by 36.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,019 shares of the financial services provider’s stock after acquiring an additional 24,470 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.37% of 1st Source worth $5,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised 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 period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in 1st Source in the third quarter worth $1,713,000. Barclays PLC raised its stake in shares of 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 buying an additional 25,687 shares during the period. Jane Street Group LLC lifted its position in shares of 1st Source by 152.7% during the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,106,000 after buying an additional 21,254 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of 1st Source by 11.5% during the 2nd quarter. American Century Companies Inc. now owns 174,688 shares of the financial services provider’s stock worth $9,367,000 after acquiring an additional 18,049 shares during the period. 74.45% of the stock is currently owned by hedge funds and other institutional investors.

1st Source Trading Down 0.8 %

Shares of 1st Source stock opened at $57.50 on Friday. The stock has a market capitalization of $1.41 billion, a P/E ratio of 10.95 and a beta of 0.82. 1st Source Co. has a 52-week low of $47.30 and a 52-week high of $68.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50-day simple moving average is $61.94 and its 200 day simple moving average is $60.13.

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

1st Source Announces Dividend

The business 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. The ex-dividend date was Tuesday, November 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.50%. 1st Source’s dividend payout ratio is currently 27.43%.

About 1st Source

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.