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

1st Source (NASDAQ:SRCE)‘s stock had its “buy (b)” rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

SRCE has been the subject of a number of other research reports. Piper Sandler raised shares of 1st Source from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $72.50 in a report on Monday, January 27th. Keefe, Bruyette & Woods lifted their target price on shares of 1st Source from $67.00 to $69.00 and gave the company a “market perform” rating in a research report on Monday, January 27th.

1st Source Stock Down 0.3 %

SRCE opened at $61.50 on Friday. 1st Source has a fifty-two week low of $47.30 and a fifty-two week high of $68.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. The company has a fifty day moving average of $62.38 and a two-hundred day moving average of $61.44. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.47 and a beta of 0.78.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. On average, research analysts expect that 1st Source will post 5.82 earnings per share for the current year.

Institutional Trading of 1st Source

Institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new position in 1st Source during the fourth quarter worth about $40,000. Financial Life Planners acquired a new position in 1st Source during the fourth quarter worth about $48,000. Jones Financial Companies Lllp boosted its position in 1st Source by 61.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 465 shares during the last quarter. Picton Mahoney Asset Management boosted its position in 1st Source by 105.6% during the fourth quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 977 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in 1st Source during the third quarter worth about $122,000. Institutional investors and hedge funds own 74.45% of the company’s stock.

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.