BNP Paribas Financial Markets Sells 3,127 Shares of 1st Source Co. (NASDAQ:SRCE)

BNP Paribas Financial Markets cut its holdings in 1st Source Co. (NASDAQ:SRCE) by 20.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,285 shares of the financial services provider’s stock after selling 3,127 shares during the period. BNP Paribas Financial Markets’ holdings in 1st Source were worth $736,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Denali Advisors LLC increased its stake in shares of 1st Source by 47.0% during the 2nd 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 last quarter. Thrivent Financial for Lutherans grew its holdings in 1st Source by 625.6% during the third quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider’s stock valued at $1,989,000 after purchasing an additional 28,648 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in 1st Source in the third quarter worth $1,713,000. American Century Companies Inc. raised its stake in shares of 1st Source by 11.5% in the second quarter. American Century Companies Inc. now owns 174,688 shares of the financial services provider’s stock valued at $9,367,000 after buying an additional 18,049 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in shares of 1st Source by 95.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 28,110 shares of the financial services provider’s stock valued at $1,683,000 after buying an additional 13,753 shares during the last quarter. 74.45% of the stock is owned by hedge funds and other institutional investors.

1st Source Trading Down 1.0 %

Shares of 1st Source stock opened at $63.60 on Friday. 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 market capitalization of $1.56 billion, a P/E ratio of 12.11 and a beta of 0.80. 1st Source Co. has a 52-week low of $47.30 and a 52-week high of $68.13. The stock’s 50-day simple moving average is $62.64 and its 200 day simple moving average is $58.72.

1st Source (NASDAQ:SRCE) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.36 by $0.05. The business had revenue of $97.93 million during the quarter, compared to the consensus estimate of $97.30 million. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. During the same quarter last year, the company earned $1.32 EPS. As a group, research analysts anticipate that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, November 5th. 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.