1st Source Corporation (NASDAQ:SRCE) Shares Sold by XTX Topco Ltd

XTX Topco Ltd reduced its position in 1st Source Corporation (NASDAQ:SRCE) by 22.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,932 shares of the financial services provider’s stock after selling 1,124 shares during the quarter. XTX Topco Ltd’s holdings in 1st Source were worth $235,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its holdings in shares of 1st Source by 154.4% in the fourth quarter. Nuveen Asset Management LLC now owns 139,017 shares of the financial services provider’s stock valued at $8,116,000 after purchasing an additional 84,378 shares during the last quarter. Millennium Management LLC increased its holdings in shares of 1st Source by 34.3% in the fourth quarter. Millennium Management LLC now owns 203,856 shares of the financial services provider’s stock valued at $11,901,000 after purchasing an additional 52,110 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of 1st Source by 35.4% in the 4th quarter. JPMorgan Chase & Co. now owns 123,276 shares of the financial services provider’s stock worth $7,197,000 after acquiring an additional 32,257 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of 1st Source by 15.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 196,617 shares of the financial services provider’s stock worth $11,478,000 after acquiring an additional 27,025 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of 1st Source by 5,970.1% in the 1st quarter. GAMMA Investing LLC now owns 16,268 shares of the financial services provider’s stock worth $973,000 after acquiring an additional 16,000 shares during the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.

1st Source Stock Up 4.0%

Shares of NASDAQ:SRCE opened at $61.05 on Wednesday. The business has a 50-day moving average price of $61.70 and a 200 day moving average price of $61.22. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 10.69 and a beta of 0.71. 1st Source Corporation has a 12-month low of $52.14 and a 12-month high of $68.13.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.02. 1st Source had a return on equity of 11.94% and a net margin of 24.02%. The firm had revenue of $108.25 million during the quarter, compared to the consensus estimate of $104.67 million. Sell-side analysts expect that 1st Source Corporation will post 5.82 EPS for the current year.

1st Source Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, August 5th. 1st Source’s dividend payout ratio (DPR) is 26.62%.

Wall Street Analysts Forecast Growth

SRCE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $69.00 price objective (up from $67.00) on shares of 1st Source in a research report on Monday, July 28th. DA Davidson raised their price objective on shares of 1st Source from $65.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of 1st Source in a report on Tuesday, July 29th. Finally, Piper Sandler raised their price target on shares of 1st Source from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, July 28th.

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.