Boston Trust Walden Corp Sells 6,750 Shares of 1st Source Co. (NASDAQ:SRCE)

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

Other hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in shares of 1st Source by 12.2% during the 3rd quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider's stock worth $100,000 after acquiring an additional 182 shares during the period. Inspire Investing LLC lifted its holdings in 1st Source by 4.4% during the third quarter. Inspire Investing LLC now owns 6,908 shares of the financial services provider's stock valued at $414,000 after purchasing an additional 293 shares during the last quarter. nVerses Capital LLC boosted its position in 1st Source by 150.0% during the third quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider's stock worth $60,000 after purchasing an additional 600 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of 1st Source by 1.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 60,417 shares of the financial services provider's stock worth $3,618,000 after purchasing an additional 600 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of 1st Source in the fourth quarter valued at approximately $40,000. 74.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on SRCE shares. Piper Sandler raised shares of 1st Source from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $70.00 to $72.50 in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on 1st Source from $67.00 to $69.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of 1st Source in a research note on Saturday, February 1st.

1st Source Price Performance

NASDAQ:SRCE traded down $0.53 during mid-day trading on Friday, hitting $65.21. 101,287 shares of the stock traded hands, compared to its average volume of 73,311. The business's 50-day moving average price is $60.49 and its 200 day moving average price is $60.66. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.60 billion, a PE ratio of 12.17 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.

1st Source (NASDAQ:SRCE - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, beating analysts' consensus estimates 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, analysts expect that 1st Source Co. will post 5.82 EPS for the current fiscal year.

1st Source Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.21%. 1st Source's dividend payout ratio is currently 26.87%.

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.