15,281 Shares in 1st Source Co. (NASDAQ:SRCE) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP purchased a new position in 1st Source Co. (NASDAQ:SRCE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,281 shares of the financial services provider’s stock, valued at approximately $892,000. ExodusPoint Capital Management LP owned about 0.06% of 1st Source at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Alliancebernstein L.P. increased its position in 1st Source by 2.6% in the 4th quarter. Alliancebernstein L.P. now owns 519,846 shares of the financial services provider’s stock valued at $30,349,000 after acquiring an additional 13,273 shares during the period. Norges Bank acquired a new stake in 1st Source in the 4th quarter valued at approximately $2,984,000. JPMorgan Chase & Co. increased its position in 1st Source by 35.4% in the 4th quarter. JPMorgan Chase & Co. now owns 123,276 shares of the financial services provider’s stock valued at $7,197,000 after acquiring an additional 32,257 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in 1st Source in the 4th quarter valued at approximately $251,000. Finally, Sei Investments Co. increased its position in 1st Source by 91.3% in the 4th quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider’s stock valued at $3,123,000 after acquiring an additional 25,528 shares during the period. Institutional investors own 74.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of 1st Source in a research report on Tuesday. Piper Sandler upgraded 1st Source from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $72.50 in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lifted 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.

1st Source Stock Down 4.6 %

Shares of SRCE stock opened at $53.70 on Friday. 1st Source Co. has a 1 year low of $47.30 and a 1 year high of $68.13. The stock has a market cap of $1.32 billion, a PE ratio of 10.02 and a beta of 0.67. The business’s fifty day moving average is $61.94 and its 200-day moving average is $61.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.07. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. Equities analysts expect that 1st Source Co. will post 5.82 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Tuesday, February 4th. 1st Source’s dividend payout ratio is presently 26.87%.

1st Source Company Profile

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.