1st Source Co. (NASDAQ:SRCE) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in 1st Source Co. (NASDAQ:SRCEGet Rating) by 9.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 51,502 shares of the financial services provider’s stock after selling 5,572 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.21% of 1st Source worth $2,382,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. GSA Capital Partners LLP lifted its holdings in shares of 1st Source by 3.1% in the 4th quarter. GSA Capital Partners LLP now owns 10,095 shares of the financial services provider’s stock worth $501,000 after acquiring an additional 308 shares during the last quarter. New York State Teachers Retirement System increased its stake in 1st Source by 50.0% during the 1st quarter. New York State Teachers Retirement System now owns 1,500 shares of the financial services provider’s stock worth $69,000 after buying an additional 500 shares during the period. Innovative Portfolios increased its stake in 1st Source by 7.4% during the 4th quarter. Innovative Portfolios now owns 7,238 shares of the financial services provider’s stock worth $359,000 after buying an additional 501 shares during the period. Point72 Hong Kong Ltd purchased a new stake in 1st Source during the 4th quarter worth approximately $25,000. Finally, Allworth Financial LP increased its stake in 1st Source by 6,644.4% during the 1st quarter. Allworth Financial LP now owns 607 shares of the financial services provider’s stock worth $28,000 after buying an additional 598 shares during the period. 72.96% of the stock is currently owned by institutional investors and hedge funds.

1st Source Trading Down 1.7 %

Shares of NASDAQ:SRCE opened at $47.39 on Wednesday. 1st Source Co. has a 52 week low of $42.29 and a 52 week high of $52.69. The company’s 50 day moving average is $45.93 and its two-hundred day moving average is $46.74. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.17 billion, a PE ratio of 10.13 and a beta of 0.97.

1st Source (NASDAQ:SRCEGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. 1st Source had a net margin of 32.83% and a return on equity of 12.45%. During the same period in the prior year, the firm posted $1.19 EPS. Equities analysts predict that 1st Source Co. will post 4.61 earnings per share for the current fiscal year.

1st Source Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Tuesday, August 2nd will be given a $0.32 dividend. The ex-dividend date is Monday, August 1st. This is an increase from 1st Source’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.70%. 1st Source’s dividend payout ratio is currently 26.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. DA Davidson upped their target price on shares of 1st Source to $44.00 in a research note on Monday, July 25th. StockNews.com downgraded shares of 1st Source from a “buy” rating to a “hold” rating in a research note on Monday, May 23rd.

1st Source Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for 1st Source (NASDAQ:SRCE)

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