1st Source (NASDAQ:SRCE) Given "Buy (B)" Rating at Weiss Ratings

1st Source (NASDAQ:SRCE - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued to clients and investors on Saturday, May 24th,Weiss Ratings reports.

SRCE has been the topic of several other research reports. Piper Sandler increased their price target on shares of 1st Source from $72.50 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods increased 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 report on Monday, January 27th.

1st Source Stock Performance

1st Source stock traded down $0.32 during trading hours on Friday, hitting $60.60. The company had a trading volume of 94,704 shares, compared to its average volume of 86,628. The firm has a 50-day moving average of $58.84 and a 200 day moving average of $60.98. 1st Source has a one year low of $48.97 and a one year high of $68.13. The firm has a market cap of $1.49 billion, a PE ratio of 11.31 and a beta of 0.69. 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 (NASDAQ:SRCE - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.16. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. The firm had revenue of $104.04 million for the quarter, compared to analyst estimates of $100.97 million. On average, sell-side analysts expect that 1st Source will post 5.82 earnings per share for the current year.

Institutional Trading of 1st Source

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in 1st Source by 91.3% in the fourth quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider's stock valued at $3,123,000 after buying an additional 25,528 shares in the last quarter. Northern Trust Corp boosted its position in 1st Source by 5.2% in the fourth quarter. Northern Trust Corp now owns 184,434 shares of the financial services provider's stock valued at $10,767,000 after buying an additional 9,165 shares in the last quarter. Deutsche Bank AG boosted its position in 1st Source by 59.5% in the fourth quarter. Deutsche Bank AG now owns 16,626 shares of the financial services provider's stock valued at $971,000 after buying an additional 6,203 shares in the last quarter. Barclays PLC boosted its position in 1st Source by 162.2% in the third 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. Finally, Charles Schwab Investment Management Inc. boosted its position in 1st Source by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,941 shares of the financial services provider's stock valued at $34,616,000 after buying an additional 6,569 shares in the last quarter. Institutional investors and hedge funds own 74.45% of the company's stock.

1st Source Company 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.