Jackson Creek Investment Advisors LLC Has $1.38 Million Stake in 1st Source Co. (NASDAQ:SRCE)

Jackson Creek Investment Advisors LLC reduced its holdings in shares of 1st Source Co. (NASDAQ:SRCE) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,653 shares of the financial services provider’s stock after selling 733 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in 1st Source were worth $1,381,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of 1st Source during the 4th quarter valued at about $250,000. Victory Capital Management Inc. lifted its stake in 1st Source by 25.1% in the fourth quarter. Victory Capital Management Inc. now owns 8,636 shares of the financial services provider’s stock valued at $504,000 after buying an additional 1,735 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in 1st Source by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,941 shares of the financial services provider’s stock valued at $34,616,000 after buying an additional 6,569 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of 1st Source by 61.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider’s stock worth $71,000 after buying an additional 465 shares in the last quarter. Finally, VELA Investment Management LLC increased its stake in shares of 1st Source by 26.9% in the 4th quarter. VELA Investment Management LLC now owns 38,246 shares of the financial services provider’s stock valued at $2,233,000 after acquiring an additional 8,113 shares in the last quarter. 74.45% of the stock is owned by institutional investors.

1st Source Price Performance

Shares of NASDAQ:SRCE opened at $62.73 on Friday. The stock’s 50 day moving average is $61.55 and its 200-day moving average is $61.34. 1st Source Co. has a twelve month low of $47.30 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 firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 11.70 and a beta of 0.81.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that 1st Source Co. will post 5.82 EPS for the current fiscal year.

1st Source Announces Dividend

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 $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Tuesday, February 4th. 1st Source’s dividend payout ratio (DPR) is presently 26.87%.

Wall Street Analysts Forecast Growth

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

1st Source 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.