Thrivent Financial for Lutherans Has $1.79 Million Position in 1st Source Co. (NASDAQ:SRCE)

Thrivent Financial for Lutherans trimmed its position in 1st Source Co. (NASDAQ:SRCE) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 30,574 shares of the financial services provider’s stock after selling 2,653 shares during the period. Thrivent Financial for Lutherans’ holdings in 1st Source were worth $1,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Valeo Financial Advisors LLC raised its holdings in 1st Source by 2.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 10,124 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 221 shares during the period. Isthmus Partners LLC increased its position in shares of 1st Source by 0.6% in the 4th quarter. Isthmus Partners LLC now owns 54,649 shares of the financial services provider’s stock valued at $3,190,000 after buying an additional 328 shares in the last quarter. Jones Financial Companies Lllp raised its stake in 1st Source by 61.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider’s stock worth $71,000 after buying an additional 465 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in 1st Source by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 60,417 shares of the financial services provider’s stock worth $3,618,000 after acquiring an additional 600 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in 1st Source by 1.6% in the fourth quarter. Rhumbline Advisers now owns 42,233 shares of the financial services provider’s stock valued at $2,466,000 after acquiring an additional 656 shares during the period. Institutional investors own 74.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on 1st Source from $67.00 to $69.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Weiss Ratings reissued a “buy (b)” rating on shares of 1st Source in a research note on Saturday, March 22nd. Finally, Piper Sandler upgraded shares of 1st Source from a “neutral” rating to an “overweight” rating and upped their price target for the company from $70.00 to $72.50 in a report on Monday, January 27th.

1st Source Stock Performance

SRCE opened at $60.25 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. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.24 and a beta of 0.78. The business’s 50-day moving average price is $62.79 and its two-hundred day moving average price is $61.52. 1st Source Co. has a 1 year low of $47.30 and a 1 year high of $68.13.

1st Source (NASDAQ:SRCE) last released its earnings results on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. Equities analysts expect that 1st Source Co. will post 5.82 EPS for the current fiscal year.

1st Source Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Tuesday, February 4th. 1st Source’s dividend payout ratio is presently 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.