Victory Capital Management Inc. Has $504,000 Stock Holdings in 1st Source Co. (NASDAQ:SRCE)

Victory Capital Management Inc. boosted its holdings in shares of 1st Source Co. (NASDAQ:SRCE) by 25.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,636 shares of the financial services provider’s stock after buying an additional 1,735 shares during the period. Victory Capital Management Inc.’s holdings in 1st Source were worth $504,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in 1st Source during the fourth quarter worth $40,000. Financial Life Planners acquired a new position in 1st Source during the fourth quarter worth $48,000. Jones Financial Companies Lllp raised its holdings in 1st Source by 61.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider’s stock worth $71,000 after buying an additional 465 shares during the last quarter. Quantbot Technologies LP acquired a new position in 1st Source during the third quarter worth $122,000. Finally, Ieq Capital LLC acquired a new position in 1st Source during the fourth quarter worth $250,000. Institutional investors and hedge funds own 74.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SRCE. Keefe, Bruyette & Woods upped their price objective on shares of 1st Source from $67.00 to $69.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Piper Sandler upgraded shares of 1st Source from a “neutral” rating to an “overweight” rating and increased their target price for the company from $70.00 to $72.50 in a report on Monday, January 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of 1st Source in a report on Friday, March 7th.

1st Source Stock Performance

Shares of SRCE stock opened at $61.50 on Friday. The firm has a 50-day moving average of $62.38 and a 200-day moving average of $61.43. The company has a market cap of $1.51 billion, a P/E ratio of 11.47 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 Co. has a one year low of $47.30 and a one year high of $68.13.

1st Source (NASDAQ:SRCE) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. Equities research analysts forecast that 1st Source Co. will post 5.82 EPS for the current fiscal year.

1st Source Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 4th. This represents a $1.44 annualized dividend and a yield of 2.34%. 1st Source’s payout ratio is currently 26.87%.

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.