1st Source Corporation $SRCE Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp reduced its stake in shares of 1st Source Corporation (NASDAQ:SRCE) by 12.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 324,077 shares of the financial services provider’s stock after selling 48,005 shares during the quarter. Boston Trust Walden Corp’s holdings in 1st Source were worth $22,429,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SRCE. Vanguard Group Inc. grew its position in shares of 1st Source by 10.2% during the 4th quarter. Vanguard Group Inc. now owns 1,316,642 shares of the financial services provider’s stock valued at $82,277,000 after acquiring an additional 122,146 shares during the period. Janus Henderson Group PLC raised its holdings in 1st Source by 49.3% in the 4th quarter. Janus Henderson Group PLC now owns 335,174 shares of the financial services provider’s stock worth $20,965,000 after purchasing an additional 110,711 shares during the period. UBS Group AG raised its holdings in 1st Source by 54.9% in the 3rd quarter. UBS Group AG now owns 243,630 shares of the financial services provider’s stock worth $14,998,000 after purchasing an additional 86,322 shares during the period. American Century Companies Inc. boosted its position in 1st Source by 30.7% during the third quarter. American Century Companies Inc. now owns 339,338 shares of the financial services provider’s stock worth $20,890,000 after purchasing an additional 79,614 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in 1st Source by 95.6% during the second quarter. Qube Research & Technologies Ltd now owns 161,602 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 78,994 shares in the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.

1st Source Stock Performance

Shares of SRCE opened at $82.09 on Friday. 1st Source Corporation has a 52-week low of $56.89 and a 52-week high of $86.64. The stock has a market cap of $1.98 billion, a PE ratio of 12.59 and a beta of 0.58. The firm’s fifty day moving average is $75.68 and its two-hundred day moving average is $70.64. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.07.

1st Source (NASDAQ:SRCE) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.01). The business had revenue of $112.25 million during the quarter, compared to analyst estimates of $111.88 million. 1st Source had a net margin of 26.66% and a return on equity of 12.39%. Research analysts forecast that 1st Source Corporation will post 6.81 earnings per share for the current fiscal year.

1st Source Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.72 annualized dividend and a yield of 2.1%. This is a boost from 1st Source’s previous quarterly dividend of $0.40. 1st Source’s dividend payout ratio is currently 26.38%.

Analyst Ratings Changes

Several brokerages have commented on SRCE. Piper Sandler raised their price objective on 1st Source from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, April 27th. DA Davidson reissued a “neutral” rating and issued a $74.00 price target on shares of 1st Source in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of 1st Source from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.00.

1st Source Profile

1st Source Corporation is a bank holding company headquartered in South Bend, Indiana, operating through its wholly owned subsidiary, 1st Source Bank. The company offers a full range of commercial and consumer banking products, including checking and savings accounts, business and commercial lending, residential mortgage loans, and cash management services. Its client base spans small and medium-sized businesses, agribusinesses, professional firms, and individual consumers primarily across northern Indiana and southwestern Michigan.

In addition to traditional banking services, 1st Source Corporation provides wealth management and trust services through its 1st Source Wealth Management division.