Russell Investments Group Ltd. Sells 4,758 Shares of 1st Source Co. (NASDAQ:SRCE)

Russell Investments Group Ltd. lowered its stake in 1st Source Co. (NASDAQ:SRCE) by 17.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,711 shares of the financial services provider’s stock after selling 4,758 shares during the quarter. Russell Investments Group Ltd.’s holdings in 1st Source were worth $1,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp boosted its stake in 1st Source by 1.7% during the third quarter. State Street Corp now owns 567,195 shares of the financial services provider’s stock valued at $33,964,000 after buying an additional 9,235 shares during the last quarter. Jane Street Group LLC raised its stake in shares of 1st Source by 152.7% during the third quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,106,000 after acquiring an additional 21,254 shares in the last quarter. Barclays PLC boosted its holdings in shares of 1st Source by 162.2% in the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock valued at $2,487,000 after purchasing an additional 25,687 shares during the period. Geode Capital Management LLC raised its holdings in shares of 1st Source by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 433,440 shares of the financial services provider’s stock valued at $25,959,000 after purchasing an additional 3,780 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of 1st Source by 7.3% during the third quarter. Franklin Resources Inc. now owns 11,018 shares of the financial services provider’s stock valued at $663,000 after buying an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 74.45% of the company’s stock.

1st Source Stock Up 0.4 %

NASDAQ SRCE opened at $54.76 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $60.56 and its 200-day simple moving average is $61.12. 1st Source Co. has a 52 week low of $48.91 and a 52 week high of $68.13. The firm has a market cap of $1.34 billion, a PE ratio of 10.22 and a beta of 0.67.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. As a group, equities analysts anticipate that 1st Source Co. will post 5.82 earnings per share for the current year.

1st Source Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were paid a $0.36 dividend. The ex-dividend date was Tuesday, February 4th. This represents a $1.44 annualized dividend and a dividend yield of 2.63%. 1st Source’s dividend payout ratio (DPR) is 26.87%.

Analysts Set New Price Targets

A number of analysts recently commented on SRCE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of 1st Source in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, Piper Sandler raised shares of 1st Source from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $72.50 in a report on Monday, January 27th.

1st Source Company 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.