Empowered Funds LLC Purchases 4,288 Shares of 1st Source Co. (NASDAQ:SRCE)

Empowered Funds LLC grew its position in 1st Source Co. (NASDAQ:SRCE) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,592 shares of the financial services provider’s stock after acquiring an additional 4,288 shares during the period. Empowered Funds LLC’s holdings in 1st Source were worth $5,065,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in 1st Source by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,588,461 shares of the financial services provider’s stock valued at $85,171,000 after purchasing an additional 11,465 shares in the last quarter. Reinhart Partners LLC. boosted its stake in 1st Source by 0.3% in the second quarter. Reinhart Partners LLC. now owns 238,254 shares of the financial services provider’s stock worth $12,775,000 after purchasing an additional 818 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of 1st Source by 11.5% during the second quarter. American Century Companies Inc. now owns 174,688 shares of the financial services provider’s stock worth $9,367,000 after purchasing an additional 18,049 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of 1st Source by 9.6% in the second quarter. Renaissance Technologies LLC now owns 145,714 shares of the financial services provider’s stock valued at $7,813,000 after buying an additional 12,774 shares in the last quarter. Finally, Denali Advisors LLC raised its holdings in shares of 1st Source by 47.0% in the second quarter. Denali Advisors LLC now owns 105,100 shares of the financial services provider’s stock valued at $5,635,000 after buying an additional 33,600 shares during the last quarter. Institutional investors own 74.45% of the company’s stock.

Analyst Ratings Changes

SRCE has been the topic of a number of research analyst reports. Piper Sandler lowered shares of 1st Source from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $60.00 to $67.50 in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 target price (up from $54.00) on shares of 1st Source in a research report on Monday, July 29th.

1st Source Stock Down 0.8 %

NASDAQ SRCE opened at $64.92 on Monday. The stock has a market capitalization of $1.59 billion, a P/E ratio of 12.37 and a beta of 0.78. 1st Source Co. has a 52 week low of $47.24 and a 52 week high of $67.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a fifty day moving average of $60.46 and a 200-day moving average of $57.10.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. The firm had revenue of $97.93 million during the quarter, compared to analyst estimates of $97.30 million. During the same period last year, the company earned $1.32 earnings per share. On average, equities research analysts forecast that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.44 annualized dividend and a yield of 2.22%. 1st Source’s dividend payout ratio is currently 27.43%.

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.