Dimensional Fund Advisors LP Cuts Stock Position in 1st Source Co. (NASDAQ:SRCE)

Dimensional Fund Advisors LP lowered its stake in 1st Source Co. (NASDAQ:SRCE – Get Rating) by 0.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,654,221 shares of the financial services provider’s stock after selling 4,374 shares during the quarter. Dimensional Fund Advisors LP owned 0.07% of 1st Source worth $87,822,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its position in shares of 1st Source by 53.7% in the first quarter. Lazard Asset Management LLC now owns 841 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 294 shares during the period. Quadrant Capital Group LLC increased its stake in 1st Source by 138.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 941 shares of the financial services provider’s stock worth $44,000 after buying an additional 547 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of 1st Source by 407.9% during the third quarter. Tower Research Capital LLC TRC now owns 2,377 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 1,909 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 1st Source by 27.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,266 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 709 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of 1st Source by 5.8% in the third quarter. Public Employees Retirement System of Ohio now owns 3,726 shares of the financial services provider’s stock worth $173,000 after acquiring an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 73.23% of the company’s stock.

Insider Activity

In other news, Director Daniel B. Fitzpatrick acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $45.21 per share, for a total transaction of $45,210.00. Following the completion of the transaction, the director now owns 46,292 shares in the company, valued at $2,092,861.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have bought 2,495 shares of company stock valued at $107,888. 19.30% of the stock is currently owned by insiders.

1st Source Stock Performance

Shares of 1st Source stock opened at $43.27 on Wednesday. The business’s 50 day moving average price is $43.09 and its 200 day moving average price is $49.13. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 8.65 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. 1st Source Co. has a one year low of $38.77 and a one year high of $59.94.

1st Source Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Tuesday, May 2nd were issued a dividend of $0.32 per share. The ex-dividend date was Monday, May 1st. This represents a $1.28 annualized dividend and a dividend yield of 2.96%. 1st Source’s dividend payout ratio is presently 25.60%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com initiated coverage on 1st Source in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Piper Sandler lowered their price target on shares of 1st Source from $64.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 24th.

1st Source Company Profile

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1st Source Corp. is a bank holding company, which engages in the provision of financial products and services through its subsidiaries. The bank offers commercial and consumer banking services, trust and investment management services, and insurance to individuals and businesses. The firm provides commercial, small business, agricultural and real estate loans, including financing for industrial and commercial properties, financing for equipment, inventories and accounts receivables, and acquisition financing.