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

State Street Corp raised its holdings in shares of 1st Source Co. (NASDAQ:SRCE) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. 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’s holdings in 1st Source were worth $33,964,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SRCE. Denali Advisors LLC raised its position in shares of 1st Source by 47.0% in the 2nd quarter. Denali Advisors LLC now owns 105,100 shares of the financial services provider’s stock valued at $5,635,000 after acquiring an additional 33,600 shares during the period. Thrivent Financial for Lutherans increased its stake 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 valued at $1,989,000 after purchasing an additional 28,648 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in 1st Source in the third quarter worth $1,713,000. American Century Companies Inc. boosted its position in shares of 1st Source by 11.5% during the second quarter. American Century Companies Inc. now owns 174,688 shares of the financial services provider’s stock worth $9,367,000 after purchasing an additional 18,049 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of 1st Source by 95.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 28,110 shares of the financial services provider’s stock valued at $1,683,000 after buying an additional 13,753 shares during the period. Institutional investors and hedge funds own 74.45% of the company’s stock.

1st Source Price Performance

SRCE opened at $59.15 on Friday. The company has a fifty day simple moving average of $62.90 and a 200 day simple moving average of $59.16. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.45 billion, a P/E ratio of 11.27 and a beta of 0.80. 1st Source Co. has a 12 month low of $47.30 and a 12 month high of $68.13.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings results 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. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. The company had revenue of $97.93 million during the quarter, compared to the consensus estimate of $97.30 million. During the same period in the prior year, the company earned $1.32 earnings per share. On average, research analysts expect that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.44 annualized dividend and a yield of 2.43%. 1st Source’s dividend payout ratio (DPR) is currently 27.43%.

1st Source Company 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.