Boston Trust Walden Corp Sells 591 Shares of 1st Source Co. (NASDAQ:SRCE)

Boston Trust Walden Corp trimmed its position in 1st Source Co. (NASDAQ:SRCE) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 436,086 shares of the financial services provider’s stock after selling 591 shares during the period. Boston Trust Walden Corp owned about 1.78% of 1st Source worth $23,383,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new position in shares of 1st Source in the 4th quarter valued at $27,000. LRI Investments LLC acquired a new position in shares of 1st Source in the 1st quarter valued at $48,000. CWM LLC lifted its stake in shares of 1st Source by 726.1% in the 2nd quarter. CWM LLC now owns 1,363 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,198 shares during the period. New York State Teachers Retirement System acquired a new position in shares of 1st Source in the 1st quarter valued at $78,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of 1st Source by 10.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,356 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 218 shares during the period. 74.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SRCE has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 price target (up previously from $54.00) on shares of 1st Source in a research note on Monday, July 29th. Piper Sandler downgraded 1st Source from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $60.00 to $67.50 in a research note on Monday, July 29th.

1st Source Trading Up 0.7 %

1st Source stock traded up $0.41 during mid-day trading on Friday, hitting $57.82. 84,118 shares of the company’s stock were exchanged, compared to its average volume of 118,277. The firm has a market capitalization of $1.42 billion, a P/E ratio of 11.63 and a beta of 0.80. 1st Source Co. has a fifty-two week low of $40.96 and a fifty-two week high of $65.63. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.09. The company’s 50 day simple moving average is $55.98 and its 200-day simple moving average is $52.48.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.25 by $0.24. The business had revenue of $144.39 million for the quarter, compared to the consensus estimate of $95.80 million. 1st Source had a return on equity of 12.02% and a net margin of 23.23%. During the same quarter last year, the business posted $1.30 EPS. On average, equities analysts anticipate that 1st Source Co. will post 5.36 earnings per share for the current year.

1st Source Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a $0.36 dividend. This is an increase from 1st Source’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.49%. 1st Source’s dividend payout ratio (DPR) is currently 28.97%.

Insider Buying and Selling at 1st Source

In other 1st Source news, EVP Jeffrey L. Buhr sold 1,925 shares of 1st Source stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $50.84, for a total value of $97,867.00. Following the sale, the executive vice president now owns 68,327 shares of the company’s stock, valued at approximately $3,473,744.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Daniel B. Fitzpatrick acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $49.65 per share, for a total transaction of $49,650.00. Following the acquisition, the director now directly owns 48,542 shares of the company’s stock, valued at $2,410,110.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey L. Buhr sold 1,925 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $50.84, for a total value of $97,867.00. Following the completion of the transaction, the executive vice president now owns 68,327 shares of the company’s stock, valued at approximately $3,473,744.68. The disclosure for this sale can be found here. Company insiders own 19.30% of the company’s stock.

About 1st Source

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.