American Century Companies Inc. Has $20.89 Million Holdings in 1st Source Corporation $SRCE

American Century Companies Inc. increased its holdings in shares of 1st Source Corporation (NASDAQ:SRCE) by 30.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339,338 shares of the financial services provider’s stock after acquiring an additional 79,614 shares during the period. American Century Companies Inc. owned about 1.39% of 1st Source worth $20,890,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in shares of 1st Source by 562.1% during the second quarter. EverSource Wealth Advisors LLC now owns 437 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 371 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of 1st Source in the third quarter valued at about $60,000. Tower Research Capital LLC TRC raised its holdings in shares of 1st Source by 435.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,682 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,368 shares during the last quarter. Curi Capital LLC acquired a new position in 1st Source during the 2nd quarter worth about $205,000. Finally, Engineers Gate Manager LP grew its holdings in 1st Source by 8.9% during the 2nd quarter. Engineers Gate Manager LP now owns 3,726 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 304 shares during the last quarter. Institutional investors own 74.45% of the company’s stock.

1st Source Price Performance

Shares of SRCE stock opened at $67.29 on Tuesday. The firm’s 50 day moving average price is $67.02 and its two-hundred day moving average price is $64.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $1.64 billion, a PE ratio of 10.50 and a beta of 0.63. 1st Source Corporation has a 52-week low of $52.14 and a 52-week high of $71.98.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter. 1st Source had a return on equity of 12.44% and a net margin of 26.38%.The business had revenue of $115.39 million for the quarter. As a group, analysts forecast that 1st Source Corporation will post 5.82 EPS for the current year.

1st Source Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, February 3rd. 1st Source’s dividend payout ratio (DPR) is currently 24.96%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of 1st Source in a research note on Monday, December 29th. Piper Sandler raised their price target on shares of 1st Source from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Finally, DA Davidson boosted their price objective on shares of 1st Source from $69.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, 1st Source currently has a consensus rating of “Hold” and a consensus target price of $75.33.

Insider Buying and Selling

In other 1st Source news, VP John B. Griffith sold 1,900 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $66.01, for a total value of $125,419.00. Following the completion of the sale, the vice president owned 65,976 shares of the company’s stock, valued at approximately $4,355,075.76. This represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.55% of the company’s stock.

1st Source Profile

1st Source Corporation is a bank holding company headquartered in South Bend, Indiana, operating through its wholly owned subsidiary, 1st Source Bank. The company offers a full range of commercial and consumer banking products, including checking and savings accounts, business and commercial lending, residential mortgage loans, and cash management services. Its client base spans small and medium-sized businesses, agribusinesses, professional firms, and individual consumers primarily across northern Indiana and southwestern Michigan.

In addition to traditional banking services, 1st Source Corporation provides wealth management and trust services through its 1st Source Wealth Management division.