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

Values First Advisors Inc. boosted its stake in 1st Source Co. (NASDAQ:SRCE) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,967 shares of the financial services provider’s stock after buying an additional 930 shares during the period. 1st Source accounts for approximately 1.4% of Values First Advisors Inc.’s portfolio, making the stock its 14th largest position. Values First Advisors Inc.’s holdings in 1st Source were worth $2,361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. lifted its holdings in 1st Source by 2.9% in the third quarter. BlackRock Inc. now owns 1,413,016 shares of the financial services provider’s stock worth $65,422,000 after buying an additional 39,193 shares during the period. Vanguard Group Inc. lifted its holdings in 1st Source by 1.4% in the third quarter. Vanguard Group Inc. now owns 842,338 shares of the financial services provider’s stock worth $35,454,000 after buying an additional 12,005 shares during the period. Alliancebernstein L.P. lifted its holdings in 1st Source by 1.1% in the fourth quarter. Alliancebernstein L.P. now owns 758,615 shares of the financial services provider’s stock worth $40,275,000 after buying an additional 8,267 shares during the period. Wellington Management Group LLP lifted its holdings in 1st Source by 3.8% in the first quarter. Wellington Management Group LLP now owns 671,861 shares of the financial services provider’s stock worth $28,991,000 after buying an additional 24,823 shares during the period. Finally, State Street Corp lifted its holdings in shares of 1st Source by 12.2% during the first quarter. State Street Corp now owns 531,972 shares of the financial services provider’s stock valued at $24,604,000 after purchasing an additional 57,730 shares during the last quarter. 74.45% of the stock is currently owned by hedge funds and other institutional investors.

1st Source Stock Up 1.5 %

Shares of SRCE stock traded up $0.76 during trading hours on Friday, hitting $52.42. 113,371 shares of the company’s stock traded hands, compared to its average volume of 73,755. The stock’s fifty day simple moving average is $51.04 and its two-hundred day simple moving average is $48.92. 1st Source Co. has a 12-month low of $38.77 and a 12-month high of $56.59. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 10.42 and a beta of 0.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $1.16 earnings per share for the quarter. The company had revenue of $91.41 million during the quarter, compared to the consensus estimate of $91.20 million. 1st Source had a net margin of 24.61% and a return on equity of 12.49%. On average, analysts expect that 1st Source Co. will post 4.5 EPS for the current year.

1st Source Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, February 2nd. 1st Source’s dividend payout ratio (DPR) is currently 27.04%.

Insider Activity at 1st Source

In related news, EVP Jeffrey L. Buhr sold 761 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $51.52, for a total transaction of $39,206.72. Following the completion of the sale, the executive vice president now owns 70,252 shares of the company’s stock, valued at $3,619,383.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their target price on shares of 1st Source from $52.00 to $53.00 and gave the company a “market perform” rating in a report on Monday, January 22nd.

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.