Harbour Trust & Investment Management Co Sells 201 Shares of 1st Source Co. (NASDAQ:SRCE)

Harbour Trust & Investment Management Co reduced its holdings in shares of 1st Source Co. (NASDAQ:SRCE) by 5.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,758 shares of the financial services provider’s stock after selling 201 shares during the period. Harbour Trust & Investment Management Co’s holdings in 1st Source were worth $219,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SRCE. Mirae Asset Global Investments Co. Ltd. grew its position in 1st Source by 18.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,241 shares of the financial services provider’s stock valued at $718,000 after purchasing an additional 1,938 shares in the last quarter. Financial Life Planners bought a new position in shares of 1st Source in the 4th quarter valued at about $48,000. R Squared Ltd acquired a new stake in shares of 1st Source in the fourth quarter valued at about $40,000. SG Americas Securities LLC raised its holdings in 1st Source by 38.3% during the fourth quarter. SG Americas Securities LLC now owns 8,700 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 2,411 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of 1st Source by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 91,019 shares of the financial services provider’s stock worth $5,450,000 after purchasing an additional 24,470 shares in the last quarter. 74.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SRCE has been the subject of a number of recent analyst reports. Piper Sandler upgraded shares of 1st Source from a “neutral” rating to an “overweight” rating and increased their price target for the company from $70.00 to $72.50 in a research note on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a research note 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 Stock Performance

NASDAQ:SRCE opened at $65.21 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $60.49 and a 200 day simple moving average of $60.65. 1st Source Co. has a 1-year low of $47.30 and a 1-year high of $68.13. The stock has a market cap of $1.60 billion, a P/E ratio of 12.17 and a beta of 0.81.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 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%. Research analysts anticipate that 1st Source Co. will post 5.82 earnings per share for the current year.

1st Source Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, February 4th. This represents a $1.44 annualized dividend and a dividend yield of 2.21%. 1st Source’s dividend payout ratio is 26.87%.

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.