Isthmus Partners LLC Has $1.05 Million Stake in 1st Source Co. (SRCE)

Isthmus Partners LLC grew its holdings in 1st Source Co. (NASDAQ:SRCE) by 2.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 23,400 shares of the financial services provider’s stock after purchasing an additional 667 shares during the period. Isthmus Partners LLC owned approximately 0.09% of 1st Source worth $1,051,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc lifted its holdings in 1st Source by 8.1% during the 4th quarter. Legal & General Group Plc now owns 5,651 shares of the financial services provider’s stock worth $228,000 after buying an additional 423 shares during the period. Martingale Asset Management L P lifted its holdings in 1st Source by 0.9% during the 3rd quarter. Martingale Asset Management L P now owns 56,527 shares of the financial services provider’s stock worth $2,975,000 after buying an additional 500 shares during the period. Victory Capital Management Inc. lifted its holdings in 1st Source by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 12,826 shares of the financial services provider’s stock worth $517,000 after buying an additional 501 shares during the period. JPMorgan Chase & Co. increased its position in 1st Source by 0.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 243,772 shares of the financial services provider’s stock valued at $12,828,000 after buying an additional 1,177 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in 1st Source by 5.9% in the 3rd quarter. Wells Fargo & Company MN now owns 23,213 shares of the financial services provider’s stock valued at $1,221,000 after buying an additional 1,301 shares in the last quarter. Institutional investors own 71.22% of the company’s stock.

Shares of SRCE opened at $47.38 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.33 and a beta of 1.12. 1st Source Co. has a 52 week low of $38.44 and a 52 week high of $59.33.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. 1st Source had a return on equity of 11.27% and a net margin of 23.46%. The firm had revenue of $79.07 million during the quarter, compared to analyst estimates of $79.45 million. Analysts expect that 1st Source Co. will post 3.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be paid a $0.27 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.08 annualized dividend and a yield of 2.28%. 1st Source’s payout ratio is 34.18%.

SRCE has been the subject of a number of research analyst reports. Zacks Investment Research raised 1st Source from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday, April 24th. ValuEngine raised 1st Source from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Finally, BidaskClub raised 1st Source from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th.

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1st Source Profile

1st Source Corporation operates as the holding company for 1st Source Bank that provides commercial and consumer banking services, trust and investment management services, and insurance 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 loans, and lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.

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Institutional Ownership by Quarter for 1st Source (NASDAQ:SRCE)

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