1st Source (NASDAQ:SRCE) Receives Buy (B) Rating from Weiss Ratings

1st Source (NASDAQ:SRCE - Get Free Report)'s stock had its "buy (b)" rating reiterated by Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Separately, Piper Sandler increased their price target on shares of 1st Source from $72.50 to $75.00 and gave the company an "overweight" rating in a report on Monday, April 28th.

1st Source Stock Performance

1st Source stock traded up $0.74 during trading hours on Friday, hitting $64.83. The company had a trading volume of 52,435 shares, compared to its average volume of 99,569. The firm has a market cap of $1.59 billion, a PE ratio of 11.39 and a beta of 0.68. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.95 and a quick ratio of 0.95. 1st Source has a one year low of $52.14 and a one year high of $68.13. The firm has a 50-day moving average of $61.72 and a 200 day moving average of $60.67.

1st Source (NASDAQ:SRCE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.16. The firm had revenue of $104.04 million for the quarter, compared to analysts' expectations of $100.97 million. 1st Source had a net margin of 24.17% and a return on equity of 12.26%. On average, sell-side analysts expect that 1st Source will post 5.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. CX Institutional bought a new position in shares of 1st Source during the second quarter worth approximately $63,000. Ellsworth Advisors LLC acquired a new stake in shares of 1st Source during the 1st quarter worth approximately $503,000. Acadian Asset Management LLC boosted its position in shares of 1st Source by 6.0% during the 1st quarter. Acadian Asset Management LLC now owns 83,624 shares of the financial services provider's stock worth $4,996,000 after acquiring an additional 4,719 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 1st Source by 29.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,052 shares of the financial services provider's stock worth $1,977,000 after acquiring an additional 7,456 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of 1st Source by 2.0% during the 1st quarter. Empowered Funds LLC now owns 78,078 shares of the financial services provider's stock worth $4,670,000 after acquiring an additional 1,561 shares in the last quarter. 74.45% of the stock is owned by institutional investors.

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.