1st Source Co. (NASDAQ:SRCE) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. trimmed its holdings in shares of 1st Source Co. (NASDAQ:SRCE) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,683 shares of the financial services provider’s stock after selling 1,249 shares during the period. Financial Counselors Inc.’s holdings in 1st Source were worth $857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. R Squared Ltd bought a new position in 1st Source in the 4th quarter valued at about $40,000. Financial Life Planners acquired a new stake in shares of 1st Source in the 4th quarter worth approximately $48,000. Jones Financial Companies Lllp boosted its holdings in shares of 1st Source by 61.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 465 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of 1st Source by 105.6% during the fourth quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 977 shares during the period. Finally, Quantbot Technologies LP bought a new stake in 1st Source during the third quarter worth approximately $122,000. 74.45% of the stock is currently owned by institutional investors.

1st Source Trading Down 1.7 %

1st Source stock opened at $60.25 on Friday. 1st Source Co. has a 1 year low of $47.30 and a 1 year high of $68.13. The firm’s 50 day moving average price is $62.79 and its two-hundred day moving average price is $61.50. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 11.24 and a beta of 0.78. 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 (NASDAQ:SRCE) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. On average, research analysts predict that 1st Source Co. will post 5.82 EPS for the current fiscal year.

1st Source Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Tuesday, February 4th. 1st Source’s payout ratio is 26.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of 1st Source in a research note on Saturday, March 22nd. Piper Sandler raised 1st Source from a “neutral” rating to an “overweight” rating and raised their target price for the company from $70.00 to $72.50 in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of 1st Source from $67.00 to $69.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th.

About 1st Source

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.