State Board of Administration of Florida Retirement System maintained its position in 1st Source Corporation (NASDAQ:SRCE) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,532 shares of the financial services provider’s stock at the close of the 2nd quarter. State Board of Administration of Florida Retirement System owned approximately 0.08% of 1st Source Corporation worth $1,032,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in shares of 1st Source Corporation by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 3,866 shares of the financial services provider’s stock worth $186,000 after buying an additional 137 shares in the last quarter. ClariVest Asset Management LLC raised its position in shares of 1st Source Corporation by 28.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 114,880 shares of the financial services provider’s stock worth $5,508,000 after buying an additional 25,100 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of 1st Source Corporation by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 134,582 shares of the financial services provider’s stock worth $6,452,000 after buying an additional 949 shares in the last quarter. Cigna Investments Inc. New bought a new stake in shares of 1st Source Corporation during the 2nd quarter worth about $482,000. Finally, Bessemer Group Inc. raised its position in shares of 1st Source Corporation by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 28,951 shares of the financial services provider’s stock worth $1,388,000 after buying an additional 341 shares in the last quarter. Institutional investors own 70.22% of the company’s stock.

A number of analysts have commented on the stock. ValuEngine upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Piper Jaffray Companies set a $55.00 price target on shares of 1st Source Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, June 6th. BidaskClub downgraded shares of 1st Source Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 price target on shares of 1st Source Corporation in a research report on Sunday, July 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.67.

Shares of 1st Source Corporation (NASDAQ SRCE) opened at 48.12 on Friday. The company has a market capitalization of $1.25 billion, a P/E ratio of 20.13 and a beta of 1.04. The firm’s 50 day moving average is $47.04 and its 200-day moving average is $47.30. 1st Source Corporation has a 52-week low of $33.27 and a 52-week high of $50.78.

1st Source Corporation (NASDAQ:SRCE) last issued 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. 1st Source Corporation had a net margin of 21.41% and a return on equity of 9.14%. The firm had revenue of $70.00 million for the quarter, compared to analyst estimates of $68.90 million. Equities research analysts anticipate that 1st Source Corporation will post $2.59 earnings per share for the current fiscal year.

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1st Source Corporation Company 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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