Alpha DNA Investment Management LLC Invests $466,000 in 1st Source Co. (NASDAQ:SRCE)

Alpha DNA Investment Management LLC purchased a new position in 1st Source Co. (NASDAQ:SRCE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,787 shares of the financial services provider’s stock, valued at approximately $466,000.

Several other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System increased its holdings in shares of 1st Source by 12.2% in the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 182 shares during the period. Quest Partners LLC increased its holdings in shares of 1st Source by 5.2% in the second quarter. Quest Partners LLC now owns 4,664 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 232 shares during the period. Inspire Investing LLC increased its holdings in shares of 1st Source by 4.4% in the third quarter. Inspire Investing LLC now owns 6,908 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 293 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of 1st Source by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 28,263 shares of the financial services provider’s stock worth $1,515,000 after purchasing an additional 438 shares during the period. Finally, nVerses Capital LLC increased its stake in 1st Source by 150.0% in the third quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 74.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SRCE shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 target price (up previously from $54.00) on shares of 1st Source in a research note on Monday, July 29th. Piper Sandler cut 1st Source from an “overweight” rating to a “neutral” rating and increased their target price for the company from $60.00 to $67.50 in a research note on Monday, July 29th.

1st Source Stock Up 2.0 %

SRCE opened at $66.29 on Monday. The stock has a market cap of $1.63 billion, a PE ratio of 12.63 and a beta of 0.78. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. 1st Source Co. has a 52 week low of $47.24 and a 52 week high of $67.74. The business’s fifty day simple moving average is $61.11 and its 200 day simple moving average is $57.57.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $97.30 million. During the same period last year, the firm earned $1.32 earnings per share. As a group, research analysts expect that 1st Source Co. will post 5.36 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, November 15th. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.17%. 1st Source’s dividend payout ratio (DPR) 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.