KFG Wealth Management LLC Has $310,000 Stock Position in 1st Source Co. (NASDAQ:SRCE)

KFG Wealth Management LLC lessened its position in shares of 1st Source Co. (NASDAQ:SRCE) by 14.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,305 shares of the financial services provider’s stock after selling 886 shares during the quarter. KFG Wealth Management LLC’s holdings in 1st Source were worth $310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of 1st Source by 625.6% during the third quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider’s stock worth $1,989,000 after buying an additional 28,648 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in 1st Source during the third quarter valued at $1,713,000. Barclays PLC grew its holdings in 1st Source by 162.2% during the 3rd quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock worth $2,487,000 after acquiring an additional 25,687 shares during the period. JPMorgan Chase & Co. raised its position in shares of 1st Source by 36.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 91,019 shares of the financial services provider’s stock worth $5,450,000 after acquiring an additional 24,470 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of 1st Source by 152.7% in the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,106,000 after purchasing an additional 21,254 shares during the period. Institutional investors and hedge funds own 74.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of 1st Source in a research note on Saturday, January 18th.

1st Source Stock Down 0.0 %

1st Source stock opened at $57.53 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.41 billion, a PE ratio of 10.96 and a beta of 0.82. The firm’s fifty day moving average is $60.81 and its 200 day moving average is $60.36. 1st Source Co. has a 12-month low of $47.30 and a 12-month high of $68.13.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. As a group, sell-side analysts predict that 1st Source Co. will post 5.46 EPS for the current fiscal year.

1st Source Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $1.44 annualized dividend and a yield of 2.50%. 1st Source’s payout ratio 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.