1st Source Co. (NASDAQ:SRCE) Shares Acquired by Swiss National Bank

Swiss National Bank grew its holdings in 1st Source Co. (NASDAQ:SRCE – Get Rating) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,589 shares of the financial services provider’s stock after buying an additional 800 shares during the quarter. Swiss National Bank owned about 0.18% of 1st Source worth $2,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in 1st Source by 2.9% during the third quarter. BlackRock Inc. now owns 1,413,016 shares of the financial services provider’s stock worth $65,422,000 after purchasing an additional 39,193 shares during the last quarter. Vanguard Group Inc. raised its holdings in 1st Source by 1.7% during the third quarter. Vanguard Group Inc. now owns 818,140 shares of the financial services provider’s stock worth $37,879,000 after purchasing an additional 13,344 shares during the last quarter. State Street Corp raised its holdings in 1st Source by 12.2% during the first quarter. State Street Corp now owns 531,972 shares of the financial services provider’s stock worth $24,604,000 after purchasing an additional 57,730 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in 1st Source by 6.3% during the third quarter. The Manufacturers Life Insurance Company now owns 458,865 shares of the financial services provider’s stock worth $21,245,000 after buying an additional 27,152 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in 1st Source by 10.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 326,861 shares of the financial services provider’s stock worth $15,118,000 after buying an additional 31,727 shares in the last quarter. 73.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on 1st Source in a research report on Thursday, May 18th. They set a “sell” rating for the company.

Insider Activity

In other news, Director Daniel B. Fitzpatrick bought 1,000 shares of 1st Source stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average price of $40.74 per share, for a total transaction of $40,740.00. Following the completion of the acquisition, the director now owns 47,292 shares of the company’s stock, valued at $1,926,676.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 2,495 shares of company stock valued at $107,888 over the last quarter. Company insiders own 19.30% of the company’s stock.

1st Source Price Performance

Shares of NASDAQ:SRCE opened at $43.06 on Thursday. The company has a market cap of $1.06 billion, a P/E ratio of 8.61 and a beta of 0.91. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. 1st Source Co. has a 52 week low of $38.77 and a 52 week high of $59.94. The business has a fifty day simple moving average of $43.02 and a 200-day simple moving average of $49.09.

1st Source Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Tuesday, May 2nd were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Monday, May 1st. 1st Source’s dividend payout ratio is currently 25.60%.

1st Source Profile

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1st Source Corp. is a bank holding company, which engages in the provision of financial products and services through its subsidiaries. The bank offers commercial and consumer banking services, trust and investment management services, and insurance to individuals and businesses. The firm provides commercial, small business, agricultural and real estate loans, including financing for industrial and commercial properties, financing for equipment, inventories and accounts receivables, and acquisition financing.