Values First Advisors Inc. Reduces Stock Position in 1st Source Co. (NASDAQ:SRCE)

Values First Advisors Inc. lowered its stake in 1st Source Co. (NASDAQ:SRCE) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,815 shares of the financial services provider’s stock after selling 1,512 shares during the quarter. 1st Source accounts for 1.2% of Values First Advisors Inc.’s portfolio, making the stock its 18th largest position. Values First Advisors Inc. owned about 0.15% of 1st Source worth $2,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SRCE. SG Americas Securities LLC purchased a new stake in 1st Source in the third quarter worth approximately $377,000. CWM LLC boosted its stake in shares of 1st Source by 122.7% during the 3rd quarter. CWM LLC now owns 3,035 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 1,672 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of 1st Source by 4.4% during the 3rd quarter. Inspire Investing LLC now owns 6,908 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 293 shares during the last quarter. nVerses Capital LLC boosted its stake in shares of 1st Source by 150.0% during the 3rd 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 1st Source by 12.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,303 shares of the financial services provider’s stock worth $600,000 after acquiring an additional 1,125 shares during the last quarter. Hedge funds and other institutional investors own 74.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler upgraded shares of 1st Source from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $72.50 in a research note on Monday, January 27th. Weiss Ratings restated a “buy (b)” rating on shares of 1st Source in a research note on Saturday, February 1st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a research note on Monday, January 27th.

1st Source Stock Up 2.8 %

Shares of NASDAQ SRCE opened at $67.65 on Wednesday. The firm’s 50-day moving average price is $60.58 and its 200-day moving average price is $60.68. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 12.62 and a beta of 0.81. 1st Source Co. has a 12-month low of $47.30 and a 12-month high of $68.13.

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, beating the consensus estimate of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 12.07%. On average, equities research analysts anticipate that 1st Source Co. will post 5.82 EPS for the current fiscal year.

1st Source Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, February 4th. This represents a $1.44 annualized dividend and a yield of 2.13%. 1st Source’s payout ratio is 26.87%.

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.