Isthmus Partners LLC Has $3.25 Million Stake in 1st Source Co. (NASDAQ:SRCE)

Isthmus Partners LLC decreased its holdings in shares of 1st Source Co. (NASDAQ:SRCE) by 18.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,321 shares of the financial services provider’s stock after selling 12,599 shares during the quarter. Isthmus Partners LLC owned about 0.22% of 1st Source worth $3,253,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. boosted its stake in 1st Source by 276.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,357 shares of the financial services provider’s stock worth $770,000 after acquiring an additional 10,544 shares during the last quarter. Principal Financial Group Inc. bought a new position in 1st Source during the 3rd quarter worth approximately $664,000. Renaissance Technologies LLC boosted its stake in 1st Source by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 145,714 shares of the financial services provider’s stock worth $7,813,000 after acquiring an additional 12,774 shares during the last quarter. Quest Partners LLC boosted its stake in 1st Source by 169.4% during the 3rd quarter. Quest Partners LLC now owns 12,564 shares of the financial services provider’s stock worth $752,000 after acquiring an additional 7,900 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in 1st Source by 17.4% during the 2nd quarter. AQR Capital Management LLC now owns 81,494 shares of the financial services provider’s stock worth $4,370,000 after acquiring an additional 12,067 shares during the last quarter. Institutional investors and hedge funds own 74.45% of the company’s stock.

1st Source Stock Down 0.5 %

1st Source stock opened at $64.89 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. 1st Source Co. has a fifty-two week low of $47.30 and a fifty-two week high of $68.13. The company’s 50 day simple moving average is $61.44 and its 200 day simple moving average is $57.81. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 12.36 and a beta of 0.78.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. The firm had revenue of $97.93 million for the quarter, compared to analyst estimates of $97.30 million. During the same quarter in the previous year, the firm posted $1.32 earnings per share. As a group, sell-side analysts anticipate that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Tuesday, November 5th. 1st Source’s payout ratio is currently 27.43%.

1st Source Profile

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.