Empowered Funds LLC Has $5.07 Million Stock Position in 1st Source Co. (NASDAQ:SRCE)

Empowered Funds LLC boosted its position in 1st Source Co. (NASDAQ:SRCE) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,592 shares of the financial services provider’s stock after buying an additional 4,288 shares during the quarter. Empowered Funds LLC owned approximately 0.34% of 1st Source worth $5,065,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of 1st Source by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,588,461 shares of the financial services provider’s stock valued at $85,171,000 after purchasing an additional 11,465 shares during the last quarter. Reinhart Partners LLC. boosted its stake in 1st Source by 0.3% during the 2nd quarter. Reinhart Partners LLC. now owns 238,254 shares of the financial services provider’s stock valued at $12,775,000 after purchasing an additional 818 shares during the period. American Century Companies Inc. grew its holdings in 1st Source by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 174,688 shares of the financial services provider’s stock valued at $9,367,000 after buying an additional 18,049 shares during the last quarter. Renaissance Technologies LLC increased its position in 1st Source by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 145,714 shares of the financial services provider’s stock worth $7,813,000 after buying an additional 12,774 shares during the period. Finally, Denali Advisors LLC lifted its holdings in shares of 1st Source by 47.0% during the second quarter. Denali Advisors LLC now owns 105,100 shares of the financial services provider’s stock worth $5,635,000 after buying an additional 33,600 shares during the last quarter. Institutional investors own 74.45% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SRCE. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 price objective (up previously from $54.00) on shares of 1st Source in a research note on Monday, July 29th. Piper Sandler downgraded shares of 1st Source from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $60.00 to $67.50 in a report on Monday, July 29th.

1st Source Trading Down 0.8 %

1st Source stock opened at $64.92 on Monday. 1st Source Co. has a 12 month low of $47.24 and a 12 month high of $67.74. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 12.37 and a beta of 0.78. The business has a 50 day moving average price of $60.46 and a two-hundred day moving average price of $57.10. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. The business had revenue of $97.93 million during the quarter, compared to analyst estimates of $97.30 million. During the same period in the prior year, the company posted $1.32 earnings per share. As a group, equities analysts forecast that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.22%. 1st Source’s dividend payout ratio (DPR) is currently 27.43%.

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.