1st Source (NASDAQ:SRCE) Price Target Raised to $67.00

Key Points

• DA Davidson has raised the price target for 1st Source (NASDAQ:SRCE) from $65.00 to $67.00, indicating an expected upside of 8.28% from the current stock price.
• For the last quarter, 1st Source reported earnings of $1.51 per share, exceeding analysts' expectations of $1.49 per share, alongside revenues of $108.25 million.
• Recent activity among institutional investors includes a substantial increase in stakes, with 74.45% of the stock now owned by hedge funds and other investors.

1st Source (NASDAQ:SRCE - Free Report) had its price target upped by DA Davidson from $65.00 to $67.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider's stock. DA Davidson also issued estimates for 1st Source's Q3 2025 earnings at $1.58 EPS, FY2025 earnings at $6.20 EPS and FY2026 earnings at $6.28 EPS.

Other equities analysts have also issued reports about the company. Weiss Ratings reissued a "buy (b)" rating on shares of 1st Source in a research report on Saturday, July 12th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $69.00 price target (up from $67.00) on shares of 1st Source in a research report on Monday. Finally, Piper Sandler boosted their price target on 1st Source from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday.

1st Source Trading Down 1.7%

Shares of SRCE traded down $1.05 during midday trading on Tuesday, hitting $58.78. The stock had a trading volume of 21,592 shares, compared to its average volume of 97,362. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market cap of $1.44 billion, a PE ratio of 10.29 and a beta of 0.68. The stock's 50 day moving average is $61.94 and its 200 day moving average is $61.12. 1st Source has a 1 year low of $52.14 and a 1 year high of $68.13.

1st Source (NASDAQ:SRCE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.02. 1st Source had a net margin of 24.02% and a return on equity of 11.94%. The company had revenue of $108.25 million for the quarter, compared to analyst estimates of $104.67 million. As a group, analysts forecast that 1st Source will post 5.82 EPS for the current fiscal year.

1st Source Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a $0.38 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.6%. 1st Source's dividend payout ratio is 26.62%.

Institutional Investors Weigh In On 1st Source

Several hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of 1st Source by 3.8% during the second quarter. Envestnet Asset Management Inc. now owns 8,551 shares of the financial services provider's stock valued at $531,000 after purchasing an additional 317 shares during the last quarter. Denali Advisors LLC lifted its holdings in shares of 1st Source by 0.5% during the second quarter. Denali Advisors LLC now owns 105,051 shares of the financial services provider's stock valued at $6,521,000 after purchasing an additional 500 shares during the last quarter. VELA Investment Management LLC lifted its holdings in shares of 1st Source by 3.6% during the second quarter. VELA Investment Management LLC now owns 33,487 shares of the financial services provider's stock valued at $2,079,000 after purchasing an additional 1,156 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of 1st Source by 9.3% during the second quarter. Inspire Investing LLC now owns 6,258 shares of the financial services provider's stock valued at $388,000 after purchasing an additional 534 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of 1st Source by 33.3% during the second quarter. KLP Kapitalforvaltning AS now owns 4,400 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 1,100 shares during the last quarter. 74.45% of the stock is owned by hedge funds and other institutional investors.

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.