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 reiterated by research analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

A number of other research firms also recently commented on SRCE. Piper Sandler upped their price objective on shares of 1st Source from $72.50 to $75.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods increased their target price 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 Price Performance

Shares of NASDAQ SRCE traded down $0.80 during midday trading on Friday, hitting $60.71. The company had a trading volume of 64,967 shares, compared to its average volume of 86,286. 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 has a twelve month low of $48.97 and a twelve month high of $68.13. The business has a 50-day simple moving average of $58.88 and a two-hundred day simple moving average of $61.10. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 11.33 and a beta of 0.69.

1st Source (NASDAQ:SRCE - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.16. The company had revenue of $104.04 million during the quarter, compared to the consensus estimate of $100.97 million. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. Equities research analysts anticipate that 1st Source will post 5.82 earnings per share for the current year.

Institutional Trading of 1st Source

A number of hedge funds have recently made changes to their positions in SRCE. Vanguard Group Inc. grew its holdings in 1st Source by 15.2% during the 1st quarter. Vanguard Group Inc. now owns 1,068,094 shares of the financial services provider's stock worth $63,883,000 after acquiring an additional 140,698 shares in the last quarter. Nuveen LLC acquired a new position in 1st Source during the 1st quarter worth $7,012,000. Hotchkis & Wiley Capital Management LLC grew its holdings in 1st Source by 157.4% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 151,497 shares of the financial services provider's stock worth $9,061,000 after acquiring an additional 92,650 shares in the last quarter. Nuveen Asset Management LLC grew its stake in 1st Source by 154.4% in the fourth quarter. Nuveen Asset Management LLC now owns 139,017 shares of the financial services provider's stock worth $8,116,000 after purchasing an additional 84,378 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in 1st Source by 57.8% in the first quarter. American Century Companies Inc. now owns 188,763 shares of the financial services provider's stock worth $11,290,000 after purchasing an additional 69,124 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.