Victory Capital Management Inc. Invests $413,000 in 1st Source Co. (NASDAQ:SRCE)

Victory Capital Management Inc. acquired a new position in shares of 1st Source Co. (NASDAQ:SRCE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,901 shares of the financial services provider’s stock, valued at approximately $413,000.

Several other hedge funds and other institutional investors have also modified their holdings of SRCE. LRI Investments LLC bought a new position in 1st Source in the 1st quarter valued at $48,000. nVerses Capital LLC grew its stake in shares of 1st Source by 150.0% during the third quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 600 shares during the period. CWM LLC grew its stake in shares of 1st Source by 726.1% during the second quarter. CWM LLC now owns 1,363 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,198 shares during the period. New York State Teachers Retirement System grew its stake in shares of 1st Source by 12.2% during the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 182 shares during the period. Finally, AMI Investment Management Inc. acquired a new stake in shares of 1st Source during the third quarter worth $206,000. Institutional investors own 74.45% of the company’s stock.

1st Source Price Performance

Shares of 1st Source stock opened at $64.89 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. 1st Source Co. has a 12 month low of $47.30 and a 12 month high of $68.13. The business has a fifty day simple moving average of $61.51 and a 200 day simple moving average of $57.85. The stock has a market cap of $1.59 billion, a PE ratio of 12.36 and a beta of 0.78.

1st Source (NASDAQ:SRCE) last announced 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. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. The business had revenue of $97.93 million during the quarter, compared to analysts’ expectations of $97.30 million. During the same period in the previous year, the firm earned $1.32 earnings per share. Research analysts predict that 1st Source Co. will post 5.36 EPS for the current year.

1st Source Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.36 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.22%. 1st Source’s payout ratio is 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.