Boston Trust Walden Corp Sells 7,058 Shares of 1st Source Corporation (NASDAQ:SRCE)

Boston Trust Walden Corp cut its position in 1st Source Corporation (NASDAQ:SRCE - Free Report) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 411,510 shares of the financial services provider's stock after selling 7,058 shares during the quarter. Boston Trust Walden Corp owned approximately 1.68% of 1st Source worth $24,612,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG increased its stake in shares of 1st Source by 59.5% in the fourth quarter. Deutsche Bank AG now owns 16,626 shares of the financial services provider's stock worth $971,000 after purchasing an additional 6,203 shares during the period. Sei Investments Co. grew its holdings in 1st Source by 91.3% in the 4th quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider's stock valued at $3,123,000 after buying an additional 25,528 shares during the last quarter. Northern Trust Corp increased its position in 1st Source by 5.2% in the 4th quarter. Northern Trust Corp now owns 184,434 shares of the financial services provider's stock worth $10,767,000 after buying an additional 9,165 shares during the period. GAMMA Investing LLC lifted its holdings in shares of 1st Source by 5,970.1% during the first quarter. GAMMA Investing LLC now owns 16,268 shares of the financial services provider's stock worth $973,000 after buying an additional 16,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 1st Source by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,941 shares of the financial services provider's stock valued at $34,616,000 after acquiring an additional 6,569 shares during the period. Institutional investors and hedge funds own 74.45% of the company's stock.

1st Source Stock Performance

Shares of NASDAQ:SRCE traded up $0.38 during trading on Friday, hitting $59.50. 495,042 shares of the stock were exchanged, compared to its average volume of 91,028. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 10.46 and a beta of 0.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.95 and a current ratio of 0.95. 1st Source Corporation has a 1-year low of $49.69 and a 1-year high of $68.13. The company's fifty day simple moving average is $59.68 and its 200-day simple moving average is $60.56.

1st Source (NASDAQ:SRCE - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.16. The firm had revenue of $104.04 million for the quarter, compared to the consensus estimate of $100.97 million. 1st Source had a net margin of 24.17% and a return on equity of 12.26%. Sell-side analysts expect that 1st Source Corporation will post 5.82 EPS for the current fiscal year.

1st Source Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.38 per share. This is a positive change from 1st Source's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Monday, May 5th. 1st Source's payout ratio is 26.71%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SRCE shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of 1st Source in a research report on Wednesday, June 11th. Piper Sandler raised their price target on shares of 1st Source from $72.50 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th.

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.