Deutsche Bank AG Has $971,000 Stock Holdings in 1st Source Co. (NASDAQ:SRCE)

Deutsche Bank AG increased its holdings in 1st Source Co. (NASDAQ:SRCE) by 59.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,626 shares of the financial services provider’s stock after purchasing an additional 6,203 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of 1st Source worth $971,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Dean Capital Management boosted its stake in 1st Source by 10.3% during the fourth quarter. Dean Capital Management now owns 40,362 shares of the financial services provider’s stock worth $2,356,000 after acquiring an additional 3,777 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in 1st Source by 15.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 196,617 shares of the financial services provider’s stock worth $11,478,000 after buying an additional 27,025 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of 1st Source in the fourth quarter valued at about $802,000. Bank of America Corp DE raised its holdings in shares of 1st Source by 13.3% in the fourth quarter. Bank of America Corp DE now owns 26,447 shares of the financial services provider’s stock valued at $1,544,000 after purchasing an additional 3,105 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of 1st Source by 17.0% in the fourth quarter. BNP Paribas Financial Markets now owns 14,369 shares of the financial services provider’s stock valued at $839,000 after purchasing an additional 2,084 shares during the last quarter. Institutional investors own 74.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SRCE shares. Piper Sandler lifted their target price on shares of 1st Source from $72.50 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of 1st Source in a research report on Saturday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a research report on Monday, January 27th.

1st Source Trading Down 0.7%

Shares of SRCE opened at $60.13 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. 1st Source Co. has a fifty-two week low of $48.97 and a fifty-two week high of $68.13. The firm has a 50 day moving average price of $58.90 and a 200-day moving average price of $61.10. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 11.22 and a beta of 0.69.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.16. The business had revenue of $104.04 million for the quarter, compared to the consensus estimate of $100.97 million. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. As a group, equities research analysts forecast that 1st Source Co. will post 5.82 earnings per share for the current year.

1st Source Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from 1st Source’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.53%. 1st Source’s dividend payout ratio is currently 26.71%.

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.