Indiana Trust & Investment Management Co Has $2.68 Million Stock Holdings in 1st Source Co. (NASDAQ:SRCE)

Indiana Trust & Investment Management Co lowered its position in shares of 1st Source Co. (NASDAQ:SRCE) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,955 shares of the financial services provider’s stock after selling 550 shares during the quarter. 1st Source comprises 0.9% of Indiana Trust & Investment Management Co’s holdings, making the stock its 19th biggest position. Indiana Trust & Investment Management Co owned 0.19% of 1st Source worth $2,683,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Jane Street Group LLC increased its holdings in 1st Source by 152.7% in the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,106,000 after buying an additional 21,254 shares during the period. State Street Corp lifted its stake in 1st Source by 1.7% in the 3rd quarter. State Street Corp now owns 567,195 shares of the financial services provider’s stock valued at $33,964,000 after purchasing an additional 9,235 shares during the last quarter. Barclays PLC boosted its position 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 buying an additional 25,687 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of 1st Source by 625.6% during the third quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider’s stock worth $1,989,000 after buying an additional 28,648 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 buying an additional 24,470 shares in the last quarter. Institutional investors own 74.45% of the company’s stock.

1st Source Stock Up 2.8 %

Shares of NASDAQ:SRCE opened at $67.65 on Wednesday. The firm has a market cap of $1.66 billion, a P/E ratio of 12.62 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 business has a fifty day simple moving average of $60.58 and a 200 day simple moving average of $60.68. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.

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

1st Source Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be given 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 dividend yield of 2.13%. 1st Source’s dividend payout ratio (DPR) is currently 26.87%.

Analyst Upgrades and Downgrades

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

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.