1st Source Co. (SRCE) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lifted its position in shares of 1st Source Co. (NASDAQ:SRCE) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,091 shares of the financial services provider’s stock after purchasing an additional 4,509 shares during the period. Schwab Charles Investment Management Inc. owned about 0.54% of 1st Source worth $7,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of 1st Source by 3.7% during the second quarter. Legal & General Group Plc now owns 3,866 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 137 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of 1st Source by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,133 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 620 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of 1st Source during the third quarter worth about $212,000. Royal Bank of Canada increased its position in shares of 1st Source by 598.4% during the second quarter. Royal Bank of Canada now owns 4,281 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 3,668 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of 1st Source during the third quarter worth about $274,000. Institutional investors and hedge funds own 70.33% of the company’s stock.

SRCE has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $53.00 target price on shares of 1st Source in a research report on Friday, December 22nd. ValuEngine upgraded 1st Source from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Piper Jaffray Companies set a $55.00 target price on 1st Source and gave the stock a “buy” rating in a research report on Friday, October 6th. DA Davidson reiterated a “hold” rating and set a $53.00 target price on shares of 1st Source in a research report on Monday, October 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded 1st Source from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, October 25th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $54.75.

1st Source Co. (NASDAQ:SRCE) opened at $50.40 on Friday. The stock has a market capitalization of $1,285.40, a PE ratio of 20.16, a P/E/G ratio of 1.72 and a beta of 1.06. 1st Source Co. has a 52-week low of $42.15 and a 52-week high of $53.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $72.82 million for the quarter, compared to analysts’ expectations of $70.20 million. 1st Source had a return on equity of 9.43% and a net margin of 21.74%. equities analysts expect that 1st Source Co. will post 2.59 earnings per share for the current fiscal year.

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About 1st Source

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 (NASDAQ:SRCE)

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