State Street Corp Purchases 9,235 Shares of 1st Source Co. (NASDAQ:SRCE)

State Street Corp grew its position in 1st Source Co. (NASDAQ:SRCE) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 567,195 shares of the financial services provider’s stock after acquiring an additional 9,235 shares during the period. State Street Corp owned 2.31% of 1st Source worth $33,964,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP raised its position in 1st Source by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,588,461 shares of the financial services provider’s stock valued at $85,171,000 after purchasing an additional 11,465 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 1st Source by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,372 shares of the financial services provider’s stock valued at $35,112,000 after buying an additional 1,872 shares during the last quarter. American Century Companies Inc. lifted its position in 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 buying an additional 18,049 shares in the last quarter. Renaissance Technologies LLC grew its holdings in 1st Source by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 145,714 shares of the financial services provider’s stock worth $7,813,000 after acquiring an additional 12,774 shares during the last quarter. Finally, FMR LLC increased its position in 1st Source by 6.1% in the 3rd quarter. FMR LLC now owns 120,617 shares of the financial services provider’s stock valued at $7,223,000 after acquiring an additional 6,981 shares in the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.

1st Source Price Performance

Shares of SRCE stock opened at $59.15 on Friday. 1st Source Co. has a 1 year low of $47.30 and a 1 year high of $68.13. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $62.90 and its 200-day moving average is $59.16. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 11.27 and a beta of 0.80.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.05. The firm had revenue of $97.93 million for the quarter, compared to the consensus estimate of $97.30 million. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. During the same quarter in the prior year, the business earned $1.32 EPS. Sell-side analysts forecast 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. Investors of record on Tuesday, November 5th were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.43%. 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.