1st Source Corporation (NASDAQ:SRCE) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp decreased its stake in 1st Source Corporation (NASDAQ:SRCE - Free Report) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 411,510 shares of the financial services provider's stock after selling 7,058 shares during the quarter. Boston Trust Walden Corp owned 1.68% of 1st Source worth $24,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG grew its holdings in shares of 1st Source by 59.5% during the 4th 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 in the last quarter. Sei Investments Co. increased its holdings in shares of 1st Source by 91.3% in the fourth quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider's stock worth $3,123,000 after acquiring an additional 25,528 shares in the last quarter. Northern Trust Corp increased its holdings in shares of 1st Source by 5.2% in the fourth quarter. Northern Trust Corp now owns 184,434 shares of the financial services provider's stock worth $10,767,000 after acquiring an additional 9,165 shares in the last quarter. GAMMA Investing LLC boosted its position 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 period. Finally, Charles Schwab Investment Management Inc. lifted 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 buying an additional 6,569 shares during the last quarter. 74.45% of the stock is owned by hedge funds and other institutional investors.

1st Source Price Performance

SRCE stock traded up $1.42 during mid-day trading on Monday, hitting $60.92. The company had a trading volume of 119,754 shares, compared to its average volume of 90,949. The company has a 50-day moving average price of $59.96 and a 200 day moving average price of $60.44. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 10.71 and a beta of 0.68. 1st Source Corporation has a 12-month low of $49.78 and a 12-month high of $68.13.

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

1st Source Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from 1st Source's previous quarterly dividend of $0.36. The ex-dividend date was Monday, May 5th. 1st Source's dividend payout ratio (DPR) is presently 26.71%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SRCE shares. Weiss Ratings reissued a "buy (b-)" rating on shares of 1st Source in a report on Wednesday, June 11th. Piper Sandler increased their target price on 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 Company 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.