Boston Trust Walden Corp Purchases 22,176 Shares of 1st Source Co. (NASDAQ:SRCE)

Boston Trust Walden Corp raised its stake in 1st Source Co. (NASDAQ:SRCE - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,272 shares of the financial services provider's stock after acquiring an additional 22,176 shares during the period. Boston Trust Walden Corp owned 1.80% of 1st Source worth $24,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of 1st Source during the fourth quarter valued at approximately $29,000. Osaic Holdings Inc. raised its holdings in 1st Source by 58.4% during the second quarter. Osaic Holdings Inc. now owns 998 shares of the financial services provider's stock worth $42,000 after purchasing an additional 368 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in 1st Source by 176.2% during the third quarter. Tower Research Capital LLC TRC now owns 1,508 shares of the financial services provider's stock worth $63,000 after purchasing an additional 962 shares in the last quarter. Point72 Middle East FZE bought a new stake in 1st Source during the second quarter worth approximately $88,000. Finally, Citigroup Inc. raised its holdings in 1st Source by 297.2% during the first quarter. Citigroup Inc. now owns 2,554 shares of the financial services provider's stock worth $110,000 after purchasing an additional 1,911 shares in the last quarter. 74.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 1st Source news, EVP Jeffrey L. Buhr sold 761 shares of 1st Source stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $51.52, for a total transaction of $39,206.72. Following the transaction, the executive vice president now directly owns 70,252 shares in the company, valued at approximately $3,619,383.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 19.30% of the stock is currently owned by company insiders.

1st Source Price Performance

NASDAQ:SRCE traded down $0.08 during midday trading on Friday, hitting $50.33. 31,361 shares of the stock were exchanged, compared to its average volume of 65,736. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.01 and a beta of 0.79. 1st Source Co. has a one year low of $38.77 and a one year high of $56.59. The business has a 50-day moving average price of $50.70 and a two-hundred day moving average price of $49.23.

1st Source (NASDAQ:SRCE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter. The firm had revenue of $91.41 million for the quarter, compared to analyst estimates of $91.20 million. 1st Source had a net margin of 24.61% and a return on equity of 12.49%. Sell-side analysts predict that 1st Source Co. will post 4.5 EPS for the current year.

1st Source Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.36 annualized dividend and a yield of 2.70%. 1st Source's dividend payout ratio (DPR) is 27.04%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their target price on 1st Source from $52.00 to $53.00 and gave the stock a "market perform" rating in a report on Monday, January 22nd.

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.