1st Source Corporation $SRCE Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co decreased its stake in shares of 1st Source Corporation (NASDAQ:SRCE) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,159 shares of the financial services provider’s stock after selling 7,063 shares during the period. Indiana Trust & Investment Management Co owned 0.11% of 1st Source worth $1,697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SRCE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 1st Source by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,911 shares of the financial services provider’s stock worth $653,000 after acquiring an additional 467 shares during the last quarter. Millennium Management LLC increased its stake in 1st Source by 18.9% during the first quarter. Millennium Management LLC now owns 242,466 shares of the financial services provider’s stock worth $14,502,000 after acquiring an additional 38,610 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 1st Source by 29.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,052 shares of the financial services provider’s stock worth $1,977,000 after acquiring an additional 7,456 shares during the last quarter. Creative Planning acquired a new stake in 1st Source during the second quarter worth about $284,000. Finally, Prudential Financial Inc. increased its stake in 1st Source by 8.6% during the second quarter. Prudential Financial Inc. now owns 11,441 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 902 shares during the last quarter. Institutional investors and hedge funds own 74.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SRCE shares. Weiss Ratings upgraded 1st Source from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Piper Sandler increased their price objective on shares of 1st Source from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Finally, DA Davidson increased their price objective on shares of 1st Source from $69.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.33.

1st Source Price Performance

SRCE stock opened at $71.88 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 0.96. 1st Source Corporation has a 1 year low of $52.57 and a 1 year high of $72.11. The firm has a market cap of $1.75 billion, a P/E ratio of 11.21 and a beta of 0.58. The stock has a 50-day simple moving average of $68.70 and a 200-day simple moving average of $64.70.

1st Source (NASDAQ:SRCE) last posted its earnings results on Friday, January 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter. 1st Source had a return on equity of 12.44% and a net margin of 26.38%.The business had revenue of $115.39 million during the quarter. On average, equities analysts predict that 1st Source Corporation will post 5.82 earnings per share for the current fiscal year.

1st Source Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Tuesday, February 3rd were paid a $0.40 dividend. The ex-dividend date was Tuesday, February 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. 1st Source’s dividend payout ratio (DPR) is 24.96%.

1st Source Profile

1st Source Corporation is a bank holding company headquartered in South Bend, Indiana, operating through its wholly owned subsidiary, 1st Source Bank. The company offers a full range of commercial and consumer banking products, including checking and savings accounts, business and commercial lending, residential mortgage loans, and cash management services. Its client base spans small and medium-sized businesses, agribusinesses, professional firms, and individual consumers primarily across northern Indiana and southwestern Michigan.

In addition to traditional banking services, 1st Source Corporation provides wealth management and trust services through its 1st Source Wealth Management division.