BlackRock Inc. grew its stake in shares of 1st Source Co. (NASDAQ:SRCE) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,149,935 shares of the financial services provider’s stock after acquiring an additional 33,113 shares during the period. BlackRock Inc. owned about 4.43% of 1st Source worth $61,440,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SRCE. The Manufacturers Life Insurance Company boosted its holdings in shares of 1st Source by 0.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 567,157 shares of the financial services provider’s stock valued at $28,709,000 after buying an additional 3,795 shares during the period. BTIM Corp. boosted its holdings in shares of 1st Source by 2.9% in the 2nd quarter. BTIM Corp. now owns 268,189 shares of the financial services provider’s stock valued at $14,329,000 after buying an additional 7,577 shares during the period. Northern Trust Corp boosted its holdings in shares of 1st Source by 1.4% in the 1st quarter. Northern Trust Corp now owns 260,010 shares of the financial services provider’s stock valued at $13,161,000 after buying an additional 3,685 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of 1st Source by 1.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 148,231 shares of the financial services provider’s stock valued at $7,920,000 after buying an additional 1,993 shares during the period. Finally, Reinhart Partners Inc. boosted its holdings in shares of 1st Source by 6.9% in the 2nd quarter. Reinhart Partners Inc. now owns 81,188 shares of the financial services provider’s stock valued at $4,338,000 after buying an additional 5,260 shares during the period. 70.82% of the stock is owned by institutional investors.

1st Source stock opened at $49.45 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.58 and a beta of 0.97. 1st Source Co. has a 52-week low of $47.16 and a 52-week high of $59.33.

1st Source (NASDAQ:SRCE) last posted its earnings results on Thursday, July 19th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.84. The firm had revenue of $78.19 million during the quarter, compared to analyst estimates of $76.80 million. 1st Source had a net margin of 22.84% and a return on equity of 10.18%. Equities analysts forecast that 1st Source Co. will post 3.34 EPS for the current fiscal year.

SRCE has been the subject of several research reports. BidaskClub lowered shares of 1st Source from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Zacks Investment Research raised shares of 1st Source from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.75.

In other 1st Source news, insider Jeffrey L. Buhr sold 550 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $56.92, for a total transaction of $31,306.00. Following the completion of the transaction, the insider now directly owns 52,361 shares of the company’s stock, valued at approximately $2,980,388.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey L. Buhr sold 1,450 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $56.98, for a total transaction of $82,621.00. Following the transaction, the executive vice president now directly owns 50,911 shares of the company’s stock, valued at $2,900,908.78. The disclosure for this sale can be found here. Insiders own 19.92% of the company’s stock.

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 investment management services, and insurance 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 loans, and lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.

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

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