ExodusPoint Capital Management LP Invests $892,000 in 1st Source Co. (NASDAQ:SRCE)

ExodusPoint Capital Management LP acquired a new position in shares of 1st Source Co. (NASDAQ:SRCE) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 15,281 shares of the financial services provider’s stock, valued at approximately $892,000.

Several other hedge funds and other institutional investors have also modified their holdings of SRCE. Norges Bank acquired a new stake in shares of 1st Source in the fourth quarter worth $2,984,000. JPMorgan Chase & Co. boosted its position in shares of 1st Source by 35.4% in the fourth quarter. JPMorgan Chase & Co. now owns 123,276 shares of the financial services provider’s stock worth $7,197,000 after buying an additional 32,257 shares during the period. American Century Companies Inc. boosted its position in shares of 1st Source by 30.5% in the fourth quarter. American Century Companies Inc. now owns 119,639 shares of the financial services provider’s stock worth $6,985,000 after buying an additional 27,966 shares during the period. Barclays PLC boosted its position in shares of 1st Source by 162.2% in the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock worth $2,487,000 after buying an additional 25,687 shares during the period. Finally, Sei Investments Co. boosted its position in shares of 1st Source by 91.3% in the fourth quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider’s stock worth $3,123,000 after buying an additional 25,528 shares during the period. Institutional investors and hedge funds own 74.45% of the company’s stock.

1st Source Price Performance

SRCE opened at $53.70 on Friday. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 10.02 and a beta of 0.67. 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 stock has a fifty day moving average price of $61.94 and a 200 day moving average price of $61.27.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. Analysts forecast that 1st Source Co. will post 5.82 EPS for the current fiscal year.

1st Source Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 4th. This represents a $1.44 annualized dividend and a yield of 2.68%. 1st Source’s dividend payout ratio (DPR) is currently 26.87%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Piper Sandler raised 1st Source from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $72.50 in a research report on Monday, January 27th. Weiss Ratings reissued a “buy (b)” rating on shares of 1st Source in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a research report on Monday, January 27th.

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.