Thrivent Financial for Lutherans Has $1.99 Million Stock Holdings in 1st Source Co. (NASDAQ:SRCE)

Thrivent Financial for Lutherans lifted its stake in shares of 1st Source Co. (NASDAQ:SRCE) by 625.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,227 shares of the financial services provider’s stock after purchasing an additional 28,648 shares during the period. Thrivent Financial for Lutherans’ holdings in 1st Source were worth $1,989,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SRCE. Denali Advisors LLC raised its position in shares of 1st Source by 47.0% during the second quarter. Denali Advisors LLC now owns 105,100 shares of the financial services provider’s stock worth $5,635,000 after purchasing an additional 33,600 shares during the period. American Century Companies Inc. raised its position 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 period. Harbor Capital Advisors Inc. raised its position in shares of 1st Source by 95.8% during the third quarter. Harbor Capital Advisors Inc. now owns 28,110 shares of the financial services provider’s stock worth $1,683,000 after purchasing an additional 13,753 shares during the period. Renaissance Technologies LLC raised its position in 1st Source by 9.6% during 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 during the period. Finally, AQR Capital Management LLC raised its position in 1st Source by 17.4% during the second quarter. AQR Capital Management LLC now owns 81,494 shares of the financial services provider’s stock valued at $4,370,000 after buying an additional 12,067 shares during the period. 74.45% of the stock is owned by institutional investors and hedge funds.

1st Source Stock Down 0.5 %

NASDAQ:SRCE opened at $64.89 on Friday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 12.36 and a beta of 0.78. 1st Source Co. has a 1-year low of $47.30 and a 1-year high of $68.13. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average price is $61.44 and its 200 day moving average price is $57.81.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.05. The firm had revenue of $97.93 million for the quarter, compared to analyst estimates of $97.30 million. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. During the same period in the previous year, the firm earned $1.32 earnings per share. On average, sell-side analysts forecast that 1st Source Co. will post 5.36 earnings per share for the current fiscal year.

1st Source Dividend Announcement

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

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.