Alpha DNA Investment Management LLC Invests $466,000 in 1st Source Co. (NASDAQ:SRCE)

Alpha DNA Investment Management LLC bought a new stake in 1st Source Co. (NASDAQ:SRCE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 7,787 shares of the financial services provider’s stock, valued at approximately $466,000.

Several other large investors also recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in shares of 1st Source by 12.2% in the 3rd quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock valued at $100,000 after buying an additional 182 shares during the period. Quest Partners LLC grew its stake in shares of 1st Source by 5.2% in the 2nd quarter. Quest Partners LLC now owns 4,664 shares of the financial services provider’s stock valued at $250,000 after buying an additional 232 shares during the period. Inspire Investing LLC grew its stake in shares of 1st Source by 4.4% in the 3rd quarter. Inspire Investing LLC now owns 6,908 shares of the financial services provider’s stock valued at $414,000 after buying an additional 293 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of 1st Source by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 28,263 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 438 shares during the period. Finally, nVerses Capital LLC grew its stake in shares of 1st Source by 150.0% in the 3rd quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock valued at $60,000 after buying an additional 600 shares during the period. 74.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on SRCE. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 target price (up from $54.00) on shares of 1st Source in a research note on Monday, July 29th. Piper Sandler downgraded 1st Source from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $60.00 to $67.50 in a research note on Monday, July 29th.

1st Source Stock Performance

Shares of SRCE opened at $66.29 on Monday. 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 50 day moving average price of $61.11 and a two-hundred day moving average price of $57.57. The firm has a market capitalization of $1.63 billion, a P/E ratio of 12.63 and a beta of 0.78. 1st Source Co. has a 52 week low of $47.24 and a 52 week high of $67.74.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. The firm had revenue of $97.93 million during 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 company posted $1.32 EPS. Equities 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 announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Tuesday, November 5th. 1st Source’s dividend payout ratio is presently 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.