Zacks Investment Management Has $682,000 Position in 1st Source Co. (NASDAQ:SRCE)

Zacks Investment Management cut its position in 1st Source Co. (NASDAQ:SRCE) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,396 shares of the financial services provider’s stock after selling 1,388 shares during the period. Zacks Investment Management’s holdings in 1st Source were worth $682,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SRCE. Isthmus Partners LLC raised its holdings in shares of 1st Source by 3.0% during the second quarter. Isthmus Partners LLC now owns 66,920 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 1,943 shares during the period. nVerses Capital LLC raised its holdings in shares of 1st Source by 150.0% during the third quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 600 shares during the period. CWM LLC raised its holdings in shares of 1st Source by 726.1% during the second quarter. CWM LLC now owns 1,363 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 1,198 shares during the period. New York State Teachers Retirement System raised its holdings in shares of 1st Source by 12.2% during the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 182 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of 1st Source during the third quarter worth $122,000. 74.45% of the stock is currently owned by institutional investors and hedge funds.

1st Source Stock Up 0.3 %

1st Source stock opened at $63.92 on Wednesday. The company has a market cap of $1.57 billion, a P/E ratio of 12.18 and a beta of 0.80. 1st Source Co. has a 1-year low of $47.30 and a 1-year high of $68.13. The company has a fifty day simple moving average of $62.39 and a 200 day simple moving average of $58.65. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE) last released its 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. The business had revenue of $97.93 million during the quarter, compared to the consensus estimate of $97.30 million. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. During the same quarter last year, the firm earned $1.32 earnings per share. Research analysts anticipate that 1st Source Co. will post 5.36 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Tuesday, November 5th. 1st Source’s dividend payout ratio (DPR) 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.