1st Source Co. (NASDAQ:SRCE) Shares Bought by Oberweis Asset Management Inc.

Oberweis Asset Management Inc. grew its position in shares of 1st Source Co. (NASDAQ:SRCE) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,500 shares of the financial services provider’s stock after purchasing an additional 1,700 shares during the quarter. Oberweis Asset Management Inc. owned approximately 0.30% of 1st Source worth $4,291,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its position in 1st Source by 91.3% during the fourth quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider’s stock worth $3,123,000 after purchasing an additional 25,528 shares in the last quarter. Barclays PLC lifted its position in shares of 1st Source by 162.2% during the 3rd quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock valued at $2,487,000 after buying an additional 25,687 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 1st Source by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 592,941 shares of the financial services provider’s stock valued at $34,616,000 after acquiring an additional 6,569 shares during the period. JPMorgan Chase & Co. increased its holdings in 1st Source by 36.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 91,019 shares of the financial services provider’s stock worth $5,450,000 after acquiring an additional 24,470 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in 1st Source during the third quarter worth $664,000. 74.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SRCE has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of 1st Source in a research note on Thursday. Piper Sandler raised 1st Source from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $72.50 in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their price objective on 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a research note on Monday, January 27th.

1st Source Stock Performance

NASDAQ:SRCE opened at $58.75 on Friday. The company’s 50-day moving average is $59.77 and its two-hundred day moving average is $61.03. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 10.96 and a beta of 0.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. 1st Source Co. has a 1-year low of $48.91 and a 1-year high of $68.13.

1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.16. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. Analysts forecast that 1st Source Co. will post 5.82 EPS for the current year.

About 1st Source

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products 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 mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.