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

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

Several other research analysts have also recently weighed in on the stock. Piper Sandler upgraded shares of 1st Source from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $72.50 in a research report on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on 1st Source from $67.00 to $69.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th.

1st Source Stock Performance

Shares of NASDAQ:SRCE opened at $56.31 on Tuesday. The business has a fifty day moving average of $62.12 and a 200-day moving average of $61.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. 1st Source has a twelve month low of $47.30 and a twelve month high of $68.13. The firm has a market cap of $1.38 billion, a PE ratio of 10.51 and a beta of 0.67.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. On average, equities research analysts predict that 1st Source will post 5.82 EPS for the current fiscal year.

Institutional Trading of 1st Source

A number of institutional investors have recently bought and sold shares of SRCE. R Squared Ltd acquired a new position in shares of 1st Source in the 4th quarter valued at $40,000. Financial Life Planners acquired a new position in 1st Source in the fourth quarter valued at about $48,000. Jones Financial Companies Lllp lifted its stake 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 period. Picton Mahoney Asset Management boosted its holdings in 1st Source by 105.6% during the fourth quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider’s stock worth $111,000 after buying an additional 977 shares during the last quarter. Finally, Aquatic Capital Management LLC grew its position in shares of 1st Source by 14.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,515 shares of the financial services provider’s stock worth $147,000 after buying an additional 315 shares during the period. Institutional investors and hedge funds 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.