Walter & Keenan Financial Consulting Co. MI ADV raised its stake in shares of 1st Source Corporation (NASDAQ:SRCE) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 11,598 shares of the financial services provider’s stock after buying an additional 1 shares during the period. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in 1st Source Corporation were worth $556,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SRCE. Wellington Management Group LLP raised its stake in shares of 1st Source Corporation by 301.3% in the first quarter. Wellington Management Group LLP now owns 1,061,773 shares of the financial services provider’s stock valued at $49,850,000 after buying an additional 797,158 shares during the period. Alliancebernstein L.P. raised its stake in shares of 1st Source Corporation by 3.9% in the first quarter. Alliancebernstein L.P. now owns 520,533 shares of the financial services provider’s stock valued at $24,439,000 after buying an additional 19,410 shares during the period. State Street Corp raised its stake in shares of 1st Source Corporation by 10.1% in the fourth quarter. State Street Corp now owns 304,281 shares of the financial services provider’s stock valued at $13,590,000 after buying an additional 27,935 shares during the period. FMR LLC raised its stake in shares of 1st Source Corporation by 29.6% in the first quarter. FMR LLC now owns 285,660 shares of the financial services provider’s stock valued at $13,412,000 after buying an additional 65,300 shares during the period. Finally, Norges Bank acquired a new stake in shares of 1st Source Corporation during the fourth quarter valued at about $11,151,000. Institutional investors own 69.54% of the company’s stock.

1st Source Corporation (NASDAQ SRCE) opened at 47.93 on Thursday. The firm’s 50-day moving average is $48.49 and its 200 day moving average is $47.10. 1st Source Corporation has a one year low of $33.27 and a one year high of $50.78. The stock has a market cap of $1.24 billion, a P/E ratio of 20.05 and a beta of 1.03.

1st Source Corporation (NASDAQ:SRCE) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. 1st Source Corporation had a return on equity of 9.14% and a net margin of 21.41%. The firm had revenue of $70 million for the quarter, compared to analyst estimates of $68.90 million. On average, analysts anticipate that 1st Source Corporation will post $2.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, August 7th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.59%. 1st Source Corporation’s dividend payout ratio (DPR) is 31.80%.

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Several equities analysts have weighed in on SRCE shares. BidaskClub raised shares of 1st Source Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research raised shares of 1st Source Corporation from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, April 26th. ValuEngine raised shares of 1st Source Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $47.00 price target on shares of 1st Source Corporation in a report on Sunday, July 23rd. Finally, Piper Jaffray Companies set a $55.00 price target on shares of 1st Source Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. 1st Source Corporation presently has a consensus rating of “Buy” and an average price target of $52.33.

About 1st Source Corporation

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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