Shares of 1st Source Corporation (NASDAQ:SRCE) have received an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $53.25.

A number of brokerages have issued reports on SRCE. Zacks Investment Research raised shares of 1st Source from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Wednesday, October 25th. DA Davidson restated a “hold” rating and issued a $53.00 price target on shares of 1st Source in a research note on Monday, October 23rd. They noted that the move was a valuation call. Piper Jaffray Companies set a $55.00 price target on shares of 1st Source and gave the company a “buy” rating in a research note on Friday, October 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 price target on shares of 1st Source in a research note on Tuesday, October 3rd. Finally, ValuEngine lowered shares of 1st Source from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.

Several large investors have recently made changes to their positions in SRCE. Teachers Advisors LLC increased its stake in shares of 1st Source by 2.2% during the first quarter. Teachers Advisors LLC now owns 26,556 shares of the financial services provider’s stock valued at $1,247,000 after acquiring an additional 572 shares during the period. Bank of America Corp DE increased its stake in shares of 1st Source by 11.6% during the first quarter. Bank of America Corp DE now owns 5,974 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 620 shares during the period. Aperio Group LLC increased its stake in shares of 1st Source by 16.1% during the second quarter. Aperio Group LLC now owns 5,104 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 709 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of 1st Source during the second quarter valued at approximately $292,000. Finally, Cigna Investments Inc. New acquired a new position in shares of 1st Source during the second quarter valued at approximately $482,000. Institutional investors own 70.34% of the company’s stock.

1st Source (SRCE) opened at $49.97 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. 1st Source has a twelve month low of $42.15 and a twelve month high of $53.29. The stock has a market cap of $1,315.48, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.96 and a beta of 1.05.

1st Source (NASDAQ:SRCE) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.66. 1st Source had a net margin of 21.74% and a return on equity of 9.43%. The firm had revenue of $72.82 million for the quarter, compared to analysts’ expectations of $70.20 million. equities analysts expect that 1st Source will post 2.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.60%. This is a positive change from 1st Source’s previous quarterly dividend of $0.19. 1st Source’s dividend payout ratio (DPR) is presently 32.00%.

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About 1st Source

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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