Isthmus Partners LLC Buys 328 Shares of 1st Source Co. (NASDAQ:SRCE)

Isthmus Partners LLC lifted its holdings in 1st Source Co. (NASDAQ:SRCE) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,649 shares of the financial services provider’s stock after purchasing an additional 328 shares during the quarter. Isthmus Partners LLC owned 0.22% of 1st Source worth $3,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of 1st Source during the 4th quarter valued at $40,000. Financial Life Planners bought a new position in 1st Source in the 4th quarter valued at $48,000. Jones Financial Companies Lllp increased its position in shares of 1st Source by 61.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 465 shares during the period. New York State Teachers Retirement System raised its holdings in shares of 1st Source by 12.2% in the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 182 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in 1st Source during the third quarter worth $122,000. Hedge funds and other institutional investors own 74.45% of the company’s stock.

1st Source Stock Up 0.5 %

Shares of SRCE opened at $62.73 on Monday. The stock has a market capitalization of $1.54 billion, a PE ratio of 11.70 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 quick ratio of 0.94 and a current ratio of 0.94. The company’s 50-day simple moving average is $61.63 and its 200-day simple moving average is $61.41.

1st Source (NASDAQ:SRCE) last issued its earnings results 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 23.10% and a return on equity of 11.92%. Analysts forecast that 1st Source Co. will post 5.82 earnings per share for the current fiscal year.

1st Source Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.44 annualized dividend and a yield of 2.30%. 1st Source’s dividend payout ratio is currently 26.87%.

Wall Street Analyst Weigh In

SRCE has been the topic of several recent analyst reports. Piper Sandler raised 1st Source from a “neutral” rating to an “overweight” rating and upped their target price for the company from $70.00 to $72.50 in a research report on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on shares of 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of 1st Source in a research report on Friday.

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.