Voya Investment Management LLC Increases Stake in 1st Source Corporation (SRCE)

Voya Investment Management LLC increased its holdings in 1st Source Corporation (NASDAQ:SRCE) by 6.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,027 shares of the financial services provider’s stock after purchasing an additional 647 shares during the period. Voya Investment Management LLC’s holdings in 1st Source Corporation were worth $529,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 1st Source Corporation by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 711,898 shares of the financial services provider’s stock valued at $34,129,000 after purchasing an additional 26,341 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of 1st Source Corporation by 10.3% in the 2nd quarter. Alliancebernstein L.P. now owns 574,353 shares of the financial services provider’s stock valued at $27,534,000 after purchasing an additional 53,820 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 1st Source Corporation by 3.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 288,115 shares of the financial services provider’s stock valued at $13,812,000 after purchasing an additional 8,754 shares in the last quarter. FMR LLC boosted its stake in shares of 1st Source Corporation by 29.6% in the 1st quarter. FMR LLC now owns 285,660 shares of the financial services provider’s stock valued at $13,412,000 after purchasing an additional 65,300 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of 1st Source Corporation by 1.8% in the 2nd quarter. Northern Trust Corp now owns 260,547 shares of the financial services provider’s stock valued at $12,491,000 after purchasing an additional 4,542 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Shares of 1st Source Corporation (SRCE) opened at $50.86 on Monday. 1st Source Corporation has a 1-year low of $33.58 and a 1-year high of $53.03. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $1,319.11, a price-to-earnings ratio of 20.34, a P/E/G ratio of 1.96 and a beta of 1.07.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, November 6th will be issued a dividend of $0.20 per share. This is a positive change from 1st Source Corporation’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, November 3rd. 1st Source Corporation’s dividend payout ratio is currently 32.00%.

A number of brokerages have recently issued reports on SRCE. Zacks Investment Research raised shares of 1st Source Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, October 25th. DA Davidson reaffirmed a “hold” rating and issued a $53.00 price objective on shares of 1st Source Corporation in a research note on Monday, October 23rd. They noted that the move was a valuation call. Piper Jaffray Companies set a $55.00 price objective on shares of 1st Source Corporation and gave the company a “buy” rating in a research note on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 price objective on shares of 1st Source Corporation in a research note on Tuesday, October 3rd. Finally, ValuEngine cut shares of 1st Source Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. 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 an average rating of “Hold” and a consensus price target of $53.25.

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1st Source Corporation Profile

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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