Boston Trust Walden Corp lessened its stake in shares of 1st Source Corporation (NASDAQ:SRCE - Free Report) by 5.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 372,082 shares of the financial services provider's stock after selling 22,654 shares during the period. Boston Trust Walden Corp owned 1.52% of 1st Source worth $23,251,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in 1st Source by 562.1% during the second quarter. EverSource Wealth Advisors LLC now owns 437 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 371 shares during the period. Quarry LP boosted its stake in shares of 1st Source by 1,694.4% in the third quarter. Quarry LP now owns 646 shares of the financial services provider's stock worth $40,000 after acquiring an additional 610 shares during the period. State of Alaska Department of Revenue bought a new position in shares of 1st Source in the third quarter worth about $60,000. Tower Research Capital LLC TRC boosted its stake in shares of 1st Source by 435.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,682 shares of the financial services provider's stock worth $104,000 after acquiring an additional 1,368 shares during the period. Finally, Financial Life Planners bought a new position in shares of 1st Source in the third quarter worth about $173,000. Institutional investors own 74.45% of the company's stock.
1st Source Price Performance
NASDAQ:SRCE opened at $73.20 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.78 billion, a P/E ratio of 11.42 and a beta of 0.58. 1st Source Corporation has a 12 month low of $56.49 and a 12 month high of $75.64. The business's 50-day moving average is $69.85 and its 200 day moving average is $65.60.
1st Source (NASDAQ:SRCE - Get Free Report) last posted its earnings results on Friday, January 23rd. The financial services provider reported $1.67 EPS for the quarter. The company had revenue of $115.39 million for the quarter. 1st Source had a return on equity of 12.44% and a net margin of 26.38%. On average, equities research analysts forecast that 1st Source Corporation will post 6.7 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. Piper Sandler upped their price objective on 1st Source from $80.00 to $83.00 and gave the stock an "overweight" rating in a research note on Monday, January 26th. Weiss Ratings raised 1st Source from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, April 6th. Finally, DA Davidson upped their price objective on 1st Source from $69.00 to $74.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.33.
View Our Latest Stock Analysis on SRCE
1st Source Company Profile
(
Free Report)
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.
See Also
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