Oberweis Asset Management Inc. Grows Stock Position in 1st Source Co. (NASDAQ:SRCE)

Oberweis Asset Management Inc. boosted its stake in shares of 1st Source Co. (NASDAQ:SRCE) by 2.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 73,500 shares of the financial services provider’s stock after acquiring an additional 1,700 shares during the period. Oberweis Asset Management Inc.’s holdings in 1st Source were worth $4,291,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of 1st Source in the 4th quarter valued at approximately $40,000. Financial Life Planners acquired a new position in shares of 1st Source during the fourth quarter worth $48,000. Jones Financial Companies Lllp increased its holdings in 1st Source by 61.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider’s stock valued at $71,000 after buying an additional 465 shares during the last quarter. Picton Mahoney Asset Management raised its stake in 1st Source by 105.6% in the fourth quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider’s stock valued at $111,000 after buying an additional 977 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in 1st Source by 143.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,738 shares of the financial services provider’s stock worth $218,000 after buying an additional 2,204 shares during the last quarter. Institutional investors and hedge funds own 74.45% of the company’s stock.

1st Source Trading Up 3.2 %

NASDAQ:SRCE opened at $58.75 on Friday. The company has a market capitalization of $1.44 billion, a PE ratio of 10.96 and a beta of 0.67. 1st Source Co. has a 52-week low of $48.91 and a 52-week high of $68.13. The stock’s 50 day moving average price is $59.77 and its 200 day moving average price is $61.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.52 earnings per share for the quarter, beating 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%. On average, research analysts anticipate that 1st Source Co. will post 5.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SRCE shares. Piper Sandler upgraded 1st Source from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $72.50 in a research note on Monday, January 27th. Weiss Ratings restated a “buy (b)” rating on shares of 1st Source in a report on Thursday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of 1st Source from $67.00 to $69.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th.

1st Source Profile

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.