Reinhart Partners Inc. increased its position in shares of 1st Source Co. (NASDAQ:SRCE) by 65.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 232,794 shares of the financial services provider’s stock after purchasing an additional 92,277 shares during the quarter. Reinhart Partners Inc. owned 0.91% of 1st Source worth $12,078,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SRCE. Vanguard Group Inc. lifted its stake in 1st Source by 1.4% in the second quarter. Vanguard Group Inc. now owns 805,819 shares of the financial services provider’s stock valued at $37,390,000 after buying an additional 11,373 shares during the last quarter. Boston Trust Walden Corp lifted its stake in 1st Source by 1.5% in the fourth quarter. Boston Trust Walden Corp now owns 247,654 shares of the financial services provider’s stock valued at $12,848,000 after buying an additional 3,640 shares during the last quarter. United Services Automobile Association lifted its stake in 1st Source by 3.2% in the second quarter. United Services Automobile Association now owns 202,102 shares of the financial services provider’s stock valued at $9,378,000 after buying an additional 6,320 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in 1st Source in the second quarter valued at $4,366,000. Finally, Indiana Trust & Investment Management CO lifted its stake in 1st Source by 5.0% in the fourth quarter. Indiana Trust & Investment Management CO now owns 86,378 shares of the financial services provider’s stock valued at $4,482,000 after buying an additional 4,087 shares during the last quarter. Hedge funds and other institutional investors own 70.31% of the company’s stock.
SRCE has been the topic of a number of recent research reports. BidaskClub cut 1st Source from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 11th. Zacks Investment Research lowered 1st Source from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Finally, DA Davidson reissued a “neutral” rating on shares of 1st Source in a report on Monday, November 18th.
Shares of SRCE traded up $0.26 during trading hours on Monday, reaching $49.43. 1,735 shares of the company’s stock traded hands, compared to its average volume of 40,087. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 13.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.93. 1st Source Co. has a twelve month low of $41.87 and a twelve month high of $53.42. The business’s fifty day simple moving average is $51.56 and its two-hundred day simple moving average is $48.27.
1st Source (NASDAQ:SRCE) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.04). The business had revenue of $80.87 million for the quarter, compared to analyst estimates of $82.00 million. 1st Source had a net margin of 23.95% and a return on equity of 11.41%. On average, equities research analysts expect that 1st Source Co. will post 3.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, February 3rd. 1st Source’s dividend payout ratio (DPR) is 32.49%.
1st Source Profile
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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