Weiss Ratings Reiterates "Buy (B)" Rating for 1st Source (NASDAQ:SRCE)

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

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

1st Source Trading Up 1.1%

NASDAQ SRCE traded up $0.67 during trading on Friday, hitting $64.03. 81,323 shares of the company's stock traded hands, compared to its average volume of 90,017. The stock has a fifty day moving average of $61.95 and a two-hundred day moving average of $60.78. 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 12-month low of $52.14 and a 12-month high of $68.13. The firm has a market cap of $1.57 billion, a P/E ratio of 11.25 and a beta of 0.68.

1st Source (NASDAQ:SRCE - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.16. The company had revenue of $104.04 million during the quarter, compared to analyst estimates of $100.97 million. 1st Source had a net margin of 24.17% and a return on equity of 12.26%. As a group, sell-side analysts expect that 1st Source will post 5.82 EPS for the current year.

Institutional Trading of 1st Source

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new stake in 1st Source in the first quarter worth about $398,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 1st Source by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,785 shares of the financial services provider's stock worth $831,000 after buying an additional 1,544 shares during the period. Deutsche Bank AG lifted its holdings 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 worth $971,000 after buying an additional 6,203 shares during the period. GAMMA Investing LLC lifted its holdings in 1st Source by 5,970.1% in the first quarter. GAMMA Investing LLC now owns 16,268 shares of the financial services provider's stock worth $973,000 after buying an additional 16,000 shares during the period. Finally, Sei Investments Co. lifted its holdings 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 worth $3,123,000 after buying an additional 25,528 shares during the period. 74.45% of the stock is currently 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.