Dean Capital Management Has $2.09 Million Stock Holdings in 1st Source Corporation $SRCE

Dean Capital Management decreased its position in 1st Source Corporation (NASDAQ:SRCE) by 19.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,023 shares of the financial services provider’s stock after selling 8,233 shares during the quarter. Dean Capital Management owned approximately 0.14% of 1st Source worth $2,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its holdings in 1st Source by 30.7% in the 3rd quarter. American Century Companies Inc. now owns 339,338 shares of the financial services provider’s stock worth $20,890,000 after acquiring an additional 79,614 shares during the period. Kelman Lazarov Inc. bought a new stake in 1st Source during the third quarter valued at about $1,442,000. Bank of New York Mellon Corp grew its position in shares of 1st Source by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 122,739 shares of the financial services provider’s stock valued at $7,618,000 after purchasing an additional 1,658 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 1st Source by 4.2% in the second quarter. Geode Capital Management LLC now owns 480,822 shares of the financial services provider’s stock valued at $29,846,000 after purchasing an additional 19,596 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its stake in shares of 1st Source by 3.8% in the second quarter. Kennedy Capital Management LLC now owns 278,829 shares of the financial services provider’s stock worth $17,307,000 after purchasing an additional 10,184 shares during the period. 74.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SRCE has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of 1st Source in a research report on Monday, December 29th. DA Davidson lifted their price target on 1st Source from $69.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Finally, Piper Sandler upped their price target on 1st Source from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.33.

1st Source Stock Down 0.1%

NASDAQ SRCE opened at $67.78 on Monday. 1st Source Corporation has a twelve month low of $52.14 and a twelve month high of $71.98. The stock has a market cap of $1.65 billion, a PE ratio of 10.57 and a beta of 0.63. The firm has a 50-day simple moving average of $67.43 and a 200 day simple moving average of $64.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 0.96.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter. The firm had revenue of $115.39 million for the quarter. 1st Source had a return on equity of 12.44% and a net margin of 26.38%. On average, research analysts forecast that 1st Source Corporation will post 5.82 EPS for the current year.

1st Source Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Tuesday, February 3rd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, February 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. 1st Source’s payout ratio is currently 24.96%.

1st Source Profile

1st Source Corporation is a bank holding company headquartered in South Bend, Indiana, operating through its wholly owned subsidiary, 1st Source Bank. The company offers a full range of commercial and consumer banking products, including checking and savings accounts, business and commercial lending, residential mortgage loans, and cash management services. Its client base spans small and medium-sized businesses, agribusinesses, professional firms, and individual consumers primarily across northern Indiana and southwestern Michigan.

In addition to traditional banking services, 1st Source Corporation provides wealth management and trust services through its 1st Source Wealth Management division.