Principal Financial Group Inc. Purchases Shares of 11,095 1st Source Co. (NASDAQ:SRCE)

Principal Financial Group Inc. acquired a new position in shares of 1st Source Co. (NASDAQ:SRCE) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 11,095 shares of the financial services provider’s stock, valued at approximately $664,000.

Several other hedge funds have also modified their holdings of SRCE. Denali Advisors LLC lifted its position in 1st Source by 47.0% during 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 in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of 1st Source by 625.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider’s stock valued at $1,989,000 after acquiring an additional 28,648 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of 1st Source during the 3rd quarter valued at $1,713,000. Barclays PLC boosted its position in 1st Source by 162.2% during the 3rd quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock worth $2,487,000 after purchasing an additional 25,687 shares during the period. Finally, Jane Street Group LLC increased its holdings in 1st Source by 152.7% in the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,106,000 after purchasing an additional 21,254 shares in the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.

1st Source Price Performance

Shares of SRCE stock opened at $57.75 on Monday. The firm has a fifty day simple moving average of $62.59 and a 200-day simple moving average of $59.87. The company has a market capitalization of $1.42 billion, a PE ratio of 11.00 and a beta of 0.82. 1st Source Co. has a twelve month low of $47.30 and a twelve month 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.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.05. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. The firm had revenue of $97.93 million for the quarter, compared to analysts’ expectations of $97.30 million. During the same period in the prior year, the company posted $1.32 earnings per share. Equities research analysts anticipate 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. Investors of record on Tuesday, November 5th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.49%. 1st Source’s dividend payout ratio is currently 27.43%.

About 1st Source

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.