Boston Trust Walden Corp Sells 10,768 Shares of 1st Source Co. (NASDAQ:SRCE)

Boston Trust Walden Corp reduced its stake in 1st Source Co. (NASDAQ:SRCE - Free Report) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,318 shares of the financial services provider's stock after selling 10,768 shares during the quarter. Boston Trust Walden Corp owned 1.74% of 1st Source worth $25,468,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 1st Source by 12.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,303 shares of the financial services provider's stock worth $600,000 after purchasing an additional 1,125 shares during the last quarter. nVerses Capital LLC increased its stake in shares of 1st Source by 150.0% during the 3rd 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 last quarter. Inspire Investing LLC increased its stake in shares of 1st Source by 4.4% during the 3rd quarter. Inspire Investing LLC now owns 6,908 shares of the financial services provider's stock worth $414,000 after purchasing an additional 293 shares during the last quarter. CWM LLC increased its stake in shares of 1st Source by 122.7% during the 3rd quarter. CWM LLC now owns 3,035 shares of the financial services provider's stock worth $182,000 after purchasing an additional 1,672 shares during the last quarter. Finally, AMI Investment Management Inc. acquired a new position in shares of 1st Source during the 3rd quarter worth about $206,000. 74.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SRCE has been the topic of several recent analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and set a $62.00 price objective (up from $54.00) on shares of 1st Source in a research note on Monday, July 29th. Piper Sandler lowered shares of 1st Source from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $60.00 to $67.50 in a research note on Monday, July 29th.

1st Source Stock Performance

SRCE traded down $2.02 on Friday, reaching $57.47. The company had a trading volume of 88,366 shares, compared to its average volume of 72,209. 1st Source Co. has a fifty-two week low of $43.35 and a fifty-two week high of $65.63. The stock has a market cap of $1.41 billion, a P/E ratio of 11.56 and a beta of 0.78. The company's fifty day moving average is $59.50 and its 200 day moving average is $55.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.94 and a current ratio of 0.94.

1st Source (NASDAQ:SRCE - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.05. 1st Source had a net margin of 23.23% and a return on equity of 12.02%. The business had revenue of $97.93 million for the quarter, compared to analyst estimates of $97.30 million. During the same quarter in the prior year, the business earned $1.32 EPS. As a group, analysts predict that 1st Source Co. will post 5.37 earnings per share for the current fiscal year.

1st Source Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, November 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.51%. 1st Source's payout ratio is presently 28.97%.

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.