Public Employees Retirement System of Ohio Raises Stake in 1st Source Corporation (SRCE)

Public Employees Retirement System of Ohio increased its position in shares of 1st Source Corporation (NASDAQ:SRCE) by 25.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,538 shares of the financial services provider’s stock after acquiring an additional 1,511 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in 1st Source Corporation were worth $361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of 1st Source Corporation by 3.8% during the second quarter. Vanguard Group Inc. now owns 711,898 shares of the financial services provider’s stock valued at $34,129,000 after acquiring an additional 26,341 shares during the period. Alliancebernstein L.P. lifted its stake in shares of 1st Source Corporation by 10.3% during the second quarter. Alliancebernstein L.P. now owns 574,353 shares of the financial services provider’s stock valued at $27,534,000 after acquiring an additional 53,820 shares during the period. Janus Henderson Group PLC acquired a new position in shares of 1st Source Corporation during the second quarter valued at $18,196,000. State Street Corp lifted its stake in shares of 1st Source Corporation by 5.5% during the second quarter. State Street Corp now owns 306,993 shares of the financial services provider’s stock valued at $14,714,000 after acquiring an additional 16,134 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of 1st Source Corporation by 3.1% during the second quarter. JPMorgan Chase & Co. now owns 288,115 shares of the financial services provider’s stock valued at $13,812,000 after acquiring an additional 8,754 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the company. ValuEngine raised 1st Source Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. BidaskClub lowered 1st Source Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Zacks Investment Research lowered 1st Source Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $47.00 target price on shares of 1st Source Corporation in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies set a $55.00 target price on 1st Source Corporation and gave the company a “buy” rating in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $53.25.

1st Source Corporation (SRCE) opened at $49.36 on Wednesday. 1st Source Corporation has a one year low of $38.29 and a one year high of $53.03. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1,262.31, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.88 and a beta of 1.07.

1st Source Corporation (NASDAQ:SRCE) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. 1st Source Corporation had a return on equity of 9.43% and a net margin of 21.74%. The firm had revenue of $72.82 million for the quarter, compared to analyst estimates of $70.20 million. equities research analysts expect that 1st Source Corporation will post 2.6 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th will be paid a $0.20 dividend. This is a positive change from 1st Source Corporation’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.80 annualized dividend and a yield of 1.62%. 1st Source Corporation’s dividend payout ratio is presently 32.00%.

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About 1st Source Corporation

1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.

Institutional Ownership by Quarter for 1st Source Corporation (NASDAQ:SRCE)

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