Jane Street Group LLC Sells 19,232 Shares of 1st Source Co. (NASDAQ:SRCE)

Jane Street Group LLC reduced its position in 1st Source Co. (NASDAQ:SRCE) by 54.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,937 shares of the financial services provider’s stock after selling 19,232 shares during the period. Jane Street Group LLC owned 0.07% of 1st Source worth $930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PDT Partners LLC raised its stake in 1st Source by 31.9% in the 4th quarter. PDT Partners LLC now owns 8,741 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 2,114 shares during the period. Northern Trust Corp raised its stake in 1st Source by 5.2% in the 4th quarter. Northern Trust Corp now owns 184,434 shares of the financial services provider’s stock valued at $10,767,000 after acquiring an additional 9,165 shares during the period. Tudor Investment Corp ET AL raised its stake in 1st Source by 23.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 57,695 shares of the financial services provider’s stock valued at $3,368,000 after acquiring an additional 10,803 shares during the period. Aquatic Capital Management LLC increased its position in shares of 1st Source by 14.3% during the fourth quarter. Aquatic Capital Management LLC now owns 2,515 shares of the financial services provider’s stock valued at $147,000 after buying an additional 315 shares during the period. Finally, Oberweis Asset Management Inc. increased its position in shares of 1st Source by 2.4% during the fourth quarter. Oberweis Asset Management Inc. now owns 73,500 shares of the financial services provider’s stock valued at $4,291,000 after buying an additional 1,700 shares during the period. 74.45% of the stock is currently owned by institutional investors.

1st Source Trading Down 1.0%

Shares of SRCE opened at $60.53 on Friday. 1st Source Co. has a twelve month low of $48.97 and a twelve month high of $68.13. 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 stock has a market cap of $1.49 billion, a PE ratio of 11.29 and a beta of 0.69. The business’s 50-day moving average price is $58.99 and its 200-day moving average price is $61.20.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.36 by $0.16. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. The company had revenue of $104.04 million during the quarter, compared to analyst estimates of $100.97 million. On average, equities analysts forecast that 1st Source Co. will post 5.82 EPS for the current fiscal year.

1st Source Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $0.38 per share. This is a positive change from 1st Source’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, May 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.51%. 1st Source’s payout ratio is presently 26.71%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of 1st Source in a research report on Saturday, May 10th. Keefe, Bruyette & Woods upped their price target on 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, Piper Sandler upped their price target on 1st Source from $72.50 to $75.00 and gave the company an “overweight” rating in a research report on Monday, April 28th.

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.