Dupont Capital Management Corp cut its stake in 1st Source Co. (NASDAQ:SRCE) by 8.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,197 shares of the financial services provider’s stock after selling 1,625 shares during the period. Dupont Capital Management Corp owned about 0.07% of 1st Source worth $647,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. 1ST Source Bank lifted its stake in 1st Source by 0.5% in the first quarter. 1ST Source Bank now owns 7,212,336 shares of the financial services provider’s stock worth $233,896,000 after purchasing an additional 33,032 shares during the last quarter. BlackRock Inc. lifted its stake in 1st Source by 2.5% in the first quarter. BlackRock Inc. now owns 1,165,777 shares of the financial services provider’s stock worth $37,806,000 after purchasing an additional 28,017 shares during the last quarter. Wellington Management Group LLP lifted its stake in 1st Source by 3.2% in the first quarter. Wellington Management Group LLP now owns 982,898 shares of the financial services provider’s stock worth $31,875,000 after purchasing an additional 30,660 shares during the last quarter. State Street Corp lifted its stake in 1st Source by 0.8% in the first quarter. State Street Corp now owns 353,654 shares of the financial services provider’s stock worth $11,469,000 after purchasing an additional 2,739 shares during the last quarter. Finally, Norges Bank bought a new stake in 1st Source in the fourth quarter worth $16,294,000. 70.83% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on SRCE shares. BidaskClub downgraded shares of 1st Source from a “sell” rating to a “strong sell” rating in a research note on Friday, May 8th. Piper Sandler boosted their price target on shares of 1st Source from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Zacks Investment Research raised shares of 1st Source from a “sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Finally, ValuEngine raised shares of 1st Source from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. 1st Source currently has an average rating of “Hold” and an average price target of $51.00.
Shares of NASDAQ:SRCE opened at $33.12 on Friday. The company has a market cap of $846.22 million, a price-to-earnings ratio of 10.45 and a beta of 1.14. The company has a 50-day moving average price of $34.10 and a 200-day moving average price of $37.09. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. 1st Source Co. has a 12 month low of $26.07 and a 12 month high of $53.42.
1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.57 by $0.15. The firm had revenue of $79.24 million during the quarter, compared to the consensus estimate of $77.65 million. 1st Source had a net margin of 21.68% and a return on equity of 9.40%. As a group, research analysts forecast that 1st Source Co. will post 2.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Monday, August 3rd. 1st Source’s dividend payout ratio (DPR) is 31.37%.
About 1st Source
1st Source Corporation operates as the holding company for 1st Source Bank that provides commercial and consumer banking services, trust and investment management services, and insurance 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 loans, and lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.
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