1st Source Co. (NASDAQ:SRCE) Stock Holdings Increased by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of 1st Source Co. (NASDAQ:SRCE) by 7.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,018 shares of the financial services provider’s stock after purchasing an additional 750 shares during the period. Franklin Resources Inc.’s holdings in 1st Source were worth $663,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings 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 acquiring an additional 21,254 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in 1st Source by 625.6% during 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 during the last quarter. State Street Corp grew its stake in 1st Source by 1.7% in the third quarter. State Street Corp now owns 567,195 shares of the financial services provider’s stock valued at $33,964,000 after purchasing an additional 9,235 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of 1st Source by 95.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 28,110 shares of the financial services provider’s stock worth $1,683,000 after purchasing an additional 13,753 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of 1st Source during the 3rd quarter valued at about $664,000. 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 stock 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 50 day simple moving average of $62.69 and a 200 day simple moving average of $59.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. 1st Source Co. has a 52 week low of $47.30 and a 52 week high of $68.13.

1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share 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 business had revenue of $97.93 million for the quarter, compared to the consensus estimate of $97.30 million. During the same quarter last year, the firm earned $1.32 EPS. On average, research analysts predict that 1st Source Co. will post 5.36 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid 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 presently 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.