California State Teachers Retirement System lessened its stake in 1st Source Corporation (NASDAQ:SRCE) by 7.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 28,515 shares of the financial services provider’s stock after selling 2,300 shares during the quarter. California State Teachers Retirement System owned 0.11% of 1st Source Corporation worth $1,367,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of 1st Source Corporation by 5.5% in the 2nd quarter. State Street Corp now owns 306,993 shares of the financial services provider’s stock valued at $14,714,000 after buying an additional 16,134 shares during the period. Janus Henderson Group PLC purchased a new position in shares of 1st Source Corporation in the 2nd quarter valued at about $18,196,000. Royal Bank of Canada boosted its stake in shares of 1st Source Corporation by 598.4% in the 2nd quarter. Royal Bank of Canada now owns 4,281 shares of the financial services provider’s stock valued at $205,000 after buying an additional 3,668 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of 1st Source Corporation in the 2nd quarter valued at about $504,000. Finally, Voya Investment Management LLC boosted its stake in shares of 1st Source Corporation by 6.2% in the 2nd quarter. Voya Investment Management LLC now owns 11,027 shares of the financial services provider’s stock valued at $529,000 after buying an additional 647 shares during the period. Institutional investors and hedge funds own 70.20% of the company’s stock.

Shares of 1st Source Corporation (SRCE) opened at $50.64 on Wednesday. The firm has a market capitalization of $1,304.33, a P/E ratio of 20.12, a P/E/G ratio of 1.94 and a beta of 1.07. 1st Source Corporation has a 52 week low of $38.74 and a 52 week high of $53.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93.

1st Source Corporation (NASDAQ:SRCE) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The firm had revenue of $72.82 million during the quarter, compared to analysts’ expectations of $70.20 million. 1st Source Corporation had a return on equity of 9.43% and a net margin of 21.74%. analysts forecast that 1st Source Corporation will post 2.6 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, November 6th were paid a dividend of $0.20 per share. This is a boost from 1st Source Corporation’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.80 annualized dividend and a yield of 1.58%. 1st Source Corporation’s payout ratio is presently 32.00%.

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SRCE has been the subject of several recent research reports. Zacks Investment Research upgraded 1st Source Corporation from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, July 25th. Piper Jaffray Companies set a $55.00 price objective on 1st Source Corporation and gave the company a “buy” rating in a research note on Wednesday, July 26th. ValuEngine upgraded 1st Source Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. BidaskClub cut 1st Source Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 target price on shares of 1st Source Corporation in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $53.25.

1st Source Corporation Profile

1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.

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

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