Swiss National Bank grew its stake in 1st Source Corporation (NASDAQ:SRCE) by 9.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,189 shares of the financial services provider’s stock after buying an additional 2,600 shares during the period. Swiss National Bank owned 0.12% of 1st Source Corporation worth $1,447,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in shares of 1st Source Corporation by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 3,866 shares of the financial services provider’s stock valued at $186,000 after buying an additional 137 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of 1st Source Corporation by 1.2% in the 2nd quarter. Bessemer Group Inc. now owns 28,951 shares of the financial services provider’s stock valued at $1,388,000 after buying an additional 341 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of 1st Source Corporation by 2.2% in the 1st quarter. Teachers Advisors LLC now owns 26,556 shares of the financial services provider’s stock valued at $1,247,000 after buying an additional 572 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of 1st Source Corporation by 11.6% in the 1st quarter. Bank of America Corp DE now owns 5,974 shares of the financial services provider’s stock valued at $280,000 after buying an additional 620 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of 1st Source Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,133 shares of the financial services provider’s stock valued at $198,000 after buying an additional 620 shares in the last quarter. Institutional investors and hedge funds own 70.22% of the company’s stock.

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Shares of 1st Source Corporation (NASDAQ:SRCE) opened at 52.08 on Wednesday. The company’s 50-day moving average is $48.18 and its 200-day moving average is $47.69. The firm has a market cap of $1.35 billion, a PE ratio of 21.78 and a beta of 1.07. 1st Source Corporation has a 52 week low of $33.27 and a 52 week high of $52.09.

1st Source Corporation (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $70.00 million during the quarter, compared to the consensus estimate of $68.90 million. 1st Source Corporation had a net margin of 21.41% and a return on equity of 9.14%. Analysts forecast that 1st Source Corporation will post $2.59 EPS for the current fiscal year.

Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of 1st Source Corporation from a “buy” rating to a “hold” rating in a report on Saturday, September 16th. Piper Jaffray Companies set a $55.00 target price on shares of 1st Source Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 target price on shares of 1st Source Corporation in a report on Sunday, July 23rd. ValuEngine upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Finally, BidaskClub cut shares of 1st Source Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $51.67.

1st Source Corporation Profile

1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.

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Institutional Ownership by Quarter for 1st Source Corporation (NASDAQ:SRCE)

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