Dynamic Technology Lab Private Ltd Cuts Stock Holdings in 1st Source Corporation $SRCE

Dynamic Technology Lab Private Ltd trimmed its position in shares of 1st Source Corporation (NASDAQ:SRCE) by 66.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,582 shares of the financial services provider’s stock after selling 15,103 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in 1st Source were worth $467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of 1st Source by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 480,822 shares of the financial services provider’s stock worth $29,846,000 after purchasing an additional 19,596 shares during the period. American Century Companies Inc. raised its holdings in 1st Source by 30.7% in the third quarter. American Century Companies Inc. now owns 339,338 shares of the financial services provider’s stock valued at $20,890,000 after buying an additional 79,614 shares during the period. Kennedy Capital Management LLC lifted its position in 1st Source by 3.8% during the second quarter. Kennedy Capital Management LLC now owns 278,829 shares of the financial services provider’s stock valued at $17,307,000 after buying an additional 10,184 shares in the last quarter. Millennium Management LLC grew 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 buying an additional 38,610 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in shares of 1st Source by 1.3% in the second quarter. Bridgeway Capital Management LLC now owns 207,208 shares of the financial services provider’s stock worth $12,861,000 after acquiring an additional 2,730 shares in the last quarter. Institutional investors and hedge funds own 74.45% of the company’s stock.

Wall Street Analysts Forecast Growth

SRCE has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of 1st Source in a report on Monday, December 29th. Piper Sandler increased their target price on 1st Source from $80.00 to $83.00 and gave the company an “overweight” rating in a research note 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 company a “neutral” rating in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, 1st Source currently has a consensus rating of “Hold” and an average price target of $75.33.

1st Source Stock Performance

Shares of SRCE stock opened at $67.46 on Thursday. The company has a market cap of $1.64 billion, a P/E ratio of 10.52 and a beta of 0.63. The business has a 50 day moving average of $67.22 and a two-hundred day moving average of $64.09. 1st Source Corporation has a 52 week low of $52.14 and a 52 week high of $71.98. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.67 EPS for the quarter. 1st Source had a return on equity of 12.44% and a net margin of 26.38%.The firm had revenue of $115.39 million during the quarter. As a group, analysts anticipate that 1st Source Corporation will post 5.82 EPS for the current year.

1st Source Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, February 3rd. 1st Source’s dividend payout ratio (DPR) is currently 24.96%.

1st Source News Roundup

Here are the key news stories impacting 1st Source this week:

• Positive Sentiment: Director buying — Melody Birmingham has repeatedly bought small blocks of SRCE shares across multiple dates over the past year, increasing her stake to roughly 9,088 shares. Regular insider purchases can signal management confidence in the business and may support the stock. Insider Form 4 filings
• Neutral Sentiment: Short-interest data appears inconsistent — two recent alerts flag a “significant increase” in March short interest, but reported short interest values are zero and show NaN changes and a 0.0 days-to-cover ratio. This looks like a reporting glitch rather than new short-selling pressure; monitor for corrected filings.
• Neutral Sentiment: Volume and technicals — Trading volume today is above the stock’s average (152k vs. ~117k), which can amplify moves. SRCE sits above its 200-day SMA and near the 50-day SMA, with a one-year range of roughly $52 to $72; fundamentals remain solid (trailing P/E ~10.5, low leverage).

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.