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

Boston Trust Walden Corp lowered its position in 1st Source Co. (NASDAQ:SRCE) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 418,568 shares of the financial services provider’s stock after selling 6,750 shares during the quarter. Boston Trust Walden Corp owned 1.71% of 1st Source worth $24,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in shares of 1st Source by 625.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider’s stock valued at $1,989,000 after acquiring an additional 28,648 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in 1st Source in the third quarter valued at about $1,713,000. Barclays PLC raised its holdings in 1st Source by 162.2% in the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock valued at $2,487,000 after acquiring an additional 25,687 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 1st Source by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 91,019 shares of the financial services provider’s stock worth $5,450,000 after purchasing an additional 24,470 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in 1st Source by 152.7% during the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock worth $2,106,000 after buying an additional 21,254 shares during the last quarter. 74.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SRCE has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of 1st Source in a research report on Saturday. Keefe, Bruyette & Woods boosted their price objective on shares of 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, Piper Sandler upgraded shares of 1st Source from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $72.50 in a research note on Monday, January 27th.

1st Source Price Performance

Shares of SRCE opened at $62.58 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $1.53 billion, a P/E ratio of 11.68 and a beta of 0.81. 1st Source Co. has a 12 month low of $47.30 and a 12 month high of $68.13. The stock has a fifty day moving average price of $60.48 and a 200 day moving average price of $60.53.

1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 12.07%. On average, research analysts forecast that 1st Source Co. will post 5.82 earnings per share for the current year.

1st Source Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.44 annualized dividend and a dividend yield of 2.30%. 1st Source’s payout ratio is currently 26.87%.

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.