Boston Trust Walden Corp Sells 7,058 Shares of 1st Source Corporation (NASDAQ:SRCE)

Boston Trust Walden Corp decreased its holdings in 1st Source Corporation (NASDAQ:SRCE) by 1.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 411,510 shares of the financial services provider’s stock after selling 7,058 shares during the period. Boston Trust Walden Corp’s holdings in 1st Source were worth $24,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC grew its position in 1st Source by 2.2% during the 1st quarter. SG Americas Securities LLC now owns 8,888 shares of the financial services provider’s stock worth $532,000 after acquiring an additional 188 shares during the last quarter. Aquatic Capital Management LLC grew its position in 1st Source by 14.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,515 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 315 shares during the last quarter. Isthmus Partners LLC grew its position in 1st Source by 0.6% during the 4th quarter. Isthmus Partners LLC now owns 54,649 shares of the financial services provider’s stock worth $3,190,000 after acquiring an additional 328 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 1st Source by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,444 shares of the financial services provider’s stock worth $610,000 after acquiring an additional 388 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in 1st Source by 6.8% during the 1st quarter. Fifth Third Bancorp now owns 6,164 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 390 shares during the last quarter. Institutional investors own 74.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of 1st Source in a research report on Wednesday, June 11th. Piper Sandler upped their price target on 1st Source from $72.50 to $75.00 and gave the company an “overweight” rating in a research report on Monday, April 28th.

1st Source Trading Up 0.9%

NASDAQ SRCE opened at $59.12 on Friday. The business’s 50-day moving average price is $59.68 and its two-hundred day moving average price is $60.56. 1st Source Corporation has a 12 month low of $49.69 and a 12 month high of $68.13. The firm has a market capitalization of $1.45 billion, a PE ratio of 10.39 and a beta of 0.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.16. 1st Source had a return on equity of 12.26% and a net margin of 24.17%. The firm had revenue of $104.04 million for the quarter, compared to analyst estimates of $100.97 million. On average, analysts expect that 1st Source Corporation will post 5.82 EPS for the current year.

1st Source Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.57%. This is an increase from 1st Source’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, May 5th. 1st Source’s payout ratio is currently 26.71%.

1st Source 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.