Deutsche Bank AG lifted its position in 1st Source Co. (NASDAQ:SRCE - Free Report) by 59.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,626 shares of the financial services provider's stock after purchasing an additional 6,203 shares during the quarter. Deutsche Bank AG owned 0.07% of 1st Source worth $971,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in SRCE. Sei Investments Co. raised its position in shares of 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 acquiring an additional 25,528 shares during the period. Northern Trust Corp raised its position in 1st Source by 5.2% during 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. Barclays PLC raised its position in 1st Source by 162.2% during the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider's stock worth $2,487,000 after acquiring an additional 25,687 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in 1st Source by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,941 shares of the financial services provider's stock worth $34,616,000 after acquiring an additional 6,569 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in 1st Source during the fourth quarter worth $502,000. Institutional investors own 74.45% of the company's stock.
1st Source Stock Performance
NASDAQ:SRCE traded down $0.32 during mid-day trading on Friday, reaching $60.60. 94,704 shares of the company's stock were exchanged, compared to its average volume of 86,628. The firm has a market capitalization of $1.49 billion, a PE ratio of 11.31 and a beta of 0.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. 1st Source Co. has a one year low of $48.97 and a one year high of $68.13. The business's fifty day simple moving average is $58.84 and its two-hundred day simple moving average is $60.98.
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, beating analysts' consensus estimates of $1.36 by $0.16. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. The company had revenue of $104.04 million for the quarter, compared to the consensus estimate of $100.97 million. Analysts anticipate that 1st Source Co. will post 5.82 earnings per share for the current fiscal year.
1st Source Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $0.38 dividend. This is an increase from 1st Source's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Monday, May 5th. 1st Source's dividend payout ratio (DPR) is presently 26.71%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of 1st Source in a research report on Saturday, May 24th. 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.
Check Out Our Latest Stock Analysis on 1st Source
1st Source Company Profile
(
Free Report)
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.
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