JPMorgan Chase & Co. Grows Holdings in 1st Source Co. (NASDAQ:SRCE)

JPMorgan Chase & Co. boosted its holdings in shares of 1st Source Co. (NASDAQ:SRCE) by 35.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 123,276 shares of the financial services provider’s stock after purchasing an additional 32,257 shares during the period. JPMorgan Chase & Co. owned approximately 0.50% of 1st Source worth $7,197,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of 1st Source by 91.3% during the fourth quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider’s stock worth $3,123,000 after buying an additional 25,528 shares during the last quarter. Jane Street Group LLC grew 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 last quarter. State Street Corp increased its holdings in shares of 1st Source by 1.7% in the third quarter. State Street Corp now owns 567,195 shares of the financial services provider’s stock valued at $33,964,000 after purchasing an additional 9,235 shares during the period. Barclays PLC raised its stake in shares of 1st Source by 162.2% during the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock worth $2,487,000 after purchasing an additional 25,687 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 1st Source by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,941 shares of the financial services provider’s stock worth $34,616,000 after purchasing an additional 6,569 shares during the period. 74.45% of the stock is currently owned by institutional investors and hedge funds.

1st Source Trading Up 1.0 %

NASDAQ:SRCE opened at $54.55 on Thursday. 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 stock has a fifty day moving average price of $61.04 and a two-hundred day moving average price of $61.13. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 10.18 and a beta of 0.67.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. As a group, sell-side analysts anticipate that 1st Source Co. will post 5.82 earnings per share for the current fiscal year.

1st Source Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.64%. The ex-dividend date was Tuesday, February 4th. 1st Source’s payout ratio is currently 26.87%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Piper Sandler upgraded shares of 1st Source from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $72.50 in a research report on Monday, January 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of 1st Source in a report on Tuesday, April 8th.

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.