Financial Counselors Inc. Has $954,000 Stock Position in 1st Source Co. (NASDAQ:SRCE)

Financial Counselors Inc. cut its position in 1st Source Co. (NASDAQ:SRCE) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,932 shares of the financial services provider’s stock after selling 160 shares during the quarter. Financial Counselors Inc.’s holdings in 1st Source were worth $954,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SRCE. Quantbot Technologies LP purchased a new stake in 1st Source in the 3rd quarter valued at $122,000. FMR LLC grew its holdings in shares of 1st Source by 6.1% in the third quarter. FMR LLC now owns 120,617 shares of the financial services provider’s stock valued at $7,223,000 after acquiring an additional 6,981 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in shares of 1st Source during the third quarter valued at approximately $466,000. Charles Schwab Investment Management Inc. lifted its holdings in 1st Source by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,372 shares of the financial services provider’s stock worth $35,112,000 after acquiring an additional 1,872 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in 1st Source in the 3rd quarter valued at $1,713,000. 74.45% of the stock is owned by institutional investors and hedge funds.

1st Source Stock Performance

Shares of 1st Source stock opened at $64.89 on Friday. The firm has a market cap of $1.59 billion, a PE ratio of 12.36 and a beta of 0.78. 1st Source Co. has a 1 year low of $47.30 and a 1 year high of $68.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a fifty day moving average price of $61.60 and a 200-day moving average price of $57.94.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. The business had revenue of $97.93 million during the quarter, compared to the consensus estimate of $97.30 million. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. During the same quarter last year, the company posted $1.32 earnings per share. Equities research analysts anticipate that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Announces Dividend

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

1st Source 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.