1st Source Corporation (SRCE) Earns “Hold” Rating from Keefe, Bruyette & Woods
1st Source Corporation (NASDAQ:SRCE)‘s stock had its “hold” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday. They currently have a $47.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 8.91% from the stock’s current price.
A number of other brokerages have also recently commented on SRCE. BidaskClub raised shares of 1st Source Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research cut shares of 1st Source Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. ValuEngine cut shares of 1st Source Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Piper Jaffray Companies set a $55.00 price target on shares of 1st Source Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $51.67.
Shares of 1st Source Corporation (SRCE) traded up 0.02% during mid-day trading on Tuesday, reaching $51.60. 43,907 shares of the company traded hands. 1st Source Corporation has a 52 week low of $33.27 and a 52 week high of $51.86. The company has a market capitalization of $1.34 billion, a P/E ratio of 21.58 and a beta of 1.07. The stock’s 50-day moving average is $47.50 and its 200-day moving average is $47.49.
1st Source Corporation (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. The business had revenue of $70.00 million during the quarter, compared to the consensus estimate of $68.90 million. 1st Source Corporation had a return on equity of 9.14% and a net margin of 21.41%. On average, equities analysts predict that 1st Source Corporation will post $2.59 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of 1st Source Corporation by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 118,020 shares of the financial services provider’s stock worth $5,541,000 after acquiring an additional 6,974 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of 1st Source Corporation during the first quarter valued at $206,000. Ameriprise Financial Inc. boosted its stake in shares of 1st Source Corporation by 26.5% during the first quarter. Ameriprise Financial Inc. now owns 16,844 shares of the financial services provider’s stock valued at $790,000 after acquiring an additional 3,533 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of 1st Source Corporation during the first quarter valued at $211,000. Finally, American International Group Inc. boosted its stake in shares of 1st Source Corporation by 7.3% during the first quarter. American International Group Inc. now owns 9,652 shares of the financial services provider’s stock valued at $453,000 after acquiring an additional 654 shares during the last quarter. 70.22% of the stock is owned by institutional investors.
About 1st Source Corporation
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.
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