1st Source’s (SRCE) “Buy (B)” Rating Reiterated at Weiss Ratings

1st Source (NASDAQ:SRCE)‘s stock had its “buy (b)” rating reiterated by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued reports about the stock. Piper Sandler raised shares of 1st Source from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $72.50 in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on shares of 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 Down 0.9 %

NASDAQ SRCE opened at $65.02 on Wednesday. The company has a 50 day moving average of $60.86 and a 200-day moving average of $60.87. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 12.13 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. 1st Source has a 1-year low of $47.30 and a 1-year high of $68.13.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 12.07%. On average, equities research analysts expect that 1st Source will post 5.82 earnings per share for the current fiscal year.

Institutional Trading of 1st Source

Hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd bought a new stake in shares of 1st Source during the fourth quarter worth $40,000. Financial Life Planners bought a new stake in shares of 1st Source in the fourth quarter worth $48,000. Jones Financial Companies Lllp grew its stake in shares of 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 worth $71,000 after purchasing an additional 465 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of 1st Source by 12.2% in the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 182 shares during the last quarter. Finally, Picton Mahoney Asset Management grew its stake in shares of 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 worth $111,000 after purchasing an additional 977 shares during the last quarter. Institutional investors own 74.45% of the company’s stock.

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.