1st Source Corporation (NASDAQ:SRCE) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Tuesday, June 6th. Piper Jaffray Companies set a $55.00 price target on shares of 1st Source Corporation and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price target on shares of 1st Source Corporation in a research note on Sunday, July 23rd. Finally, BidaskClub upgraded shares of 1st Source Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $52.33.

Shares of 1st Source Corporation (NASDAQ SRCE) traded down 0.94% during midday trading on Monday, hitting $48.31. 23,233 shares of the stock were exchanged. The company has a market cap of $1.25 billion, a PE ratio of 20.20 and a beta of 1.03. The stock has a 50 day moving average price of $48.55 and a 200-day moving average price of $46.95. 1st Source Corporation has a 12 month low of $33.27 and a 12 month high of $50.78.

1st Source Corporation (NASDAQ:SRCE) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. 1st Source Corporation had a net margin of 21.41% and a return on equity of 9.14%. The firm had revenue of $70 million for the quarter, compared to analyst estimates of $68.90 million. On average, analysts predict that 1st Source Corporation will post $2.59 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in 1st Source Corporation by 3.7% in the second quarter. Legal & General Group Plc now owns 3,866 shares of the financial services provider’s stock worth $186,000 after buying an additional 137 shares in the last quarter. Bessemer Group Inc. raised its position in 1st Source Corporation by 1.2% in the second quarter. Bessemer Group Inc. now owns 28,951 shares of the financial services provider’s stock worth $1,388,000 after buying an additional 341 shares in the last quarter. Teachers Advisors LLC raised its position in 1st Source Corporation by 2.2% in the first quarter. Teachers Advisors LLC now owns 26,556 shares of the financial services provider’s stock worth $1,247,000 after buying an additional 572 shares in the last quarter. Bank of America Corp DE raised its position in 1st Source Corporation by 11.6% in the first quarter. Bank of America Corp DE now owns 5,974 shares of the financial services provider’s stock worth $280,000 after buying an additional 620 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in 1st Source Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,133 shares of the financial services provider’s stock worth $198,000 after buying an additional 620 shares in the last quarter. Institutional investors own 69.54% of the company’s stock.

1st Source Corporation Company Profile

1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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