KFG Wealth Management LLC Sells 886 Shares of 1st Source Co. (NASDAQ:SRCE)

KFG Wealth Management LLC cut its holdings in shares of 1st Source Co. (NASDAQ:SRCE) by 14.3% in the 4th quarter, HoldingsChannel reports. The fund owned 5,305 shares of the financial services provider’s stock after selling 886 shares during the period. KFG Wealth Management LLC’s holdings in 1st Source were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SRCE. nVerses Capital LLC boosted its stake in 1st Source by 150.0% during the 3rd quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 600 shares during the last quarter. New York State Teachers Retirement System boosted its position 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 valued at $100,000 after buying an additional 182 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of 1st Source during the third quarter valued at approximately $122,000. CWM LLC grew its holdings in 1st Source by 122.7% during the third quarter. CWM LLC now owns 3,035 shares of the financial services provider’s stock worth $182,000 after buying an additional 1,672 shares in the last quarter. Finally, AMI Investment Management Inc. purchased a new stake in 1st Source in the 3rd quarter valued at $206,000. Institutional investors and hedge funds own 74.45% of the company’s stock.

1st Source Trading Down 0.0 %

NASDAQ:SRCE opened at $57.53 on Friday. 1st Source Co. has a 52 week low of $47.30 and a 52 week high of $68.13. The firm has a 50-day moving average price of $60.81 and a two-hundred day moving average price of $60.36. 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 firm has a market cap of $1.41 billion, a price-to-earnings ratio of 10.96 and a beta of 0.82.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. On average, equities analysts expect that 1st Source Co. will post 5.46 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Tuesday, February 4th. 1st Source’s dividend payout ratio (DPR) is currently 27.43%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of 1st Source in a report on Saturday, January 18th.

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.