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

Weiss Ratings reiterated their buy (b) rating on shares of 1st Source (NASDAQ:SRCE) in a report published on Tuesday morning,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on SRCE. Piper Sandler raised shares of 1st Source from a “neutral” rating to an “overweight” rating and increased their price target for the company from $70.00 to $72.50 in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped their price target on 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 Trading Down 0.4 %

Shares of SRCE opened at $54.28 on Tuesday. 1st Source has a fifty-two week low of $47.30 and a fifty-two week high of $68.13. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 10.13 and a beta of 0.67. The firm has a 50 day moving average price of $62.38 and a 200-day moving average price of $61.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94.

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

1st Source Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Tuesday, February 4th. 1st Source’s payout ratio is 26.87%.

Institutional Trading of 1st Source

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in shares of 1st Source by 152.7% in the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,106,000 after purchasing an additional 21,254 shares during the period. Sei Investments Co. increased its stake in shares of 1st Source by 91.3% in the 4th quarter. Sei Investments Co. now owns 53,494 shares of the financial services provider’s stock worth $3,123,000 after acquiring an additional 25,528 shares in the last quarter. State Street Corp lifted its position in 1st Source by 1.7% during the 3rd quarter. State Street Corp now owns 567,195 shares of the financial services provider’s stock valued at $33,964,000 after acquiring an additional 9,235 shares during the period. Barclays PLC lifted its holdings in shares of 1st Source by 162.2% during the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider’s stock valued at $2,487,000 after purchasing an additional 25,687 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 1st Source by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 592,941 shares of the financial services provider’s stock worth $34,616,000 after purchasing an additional 6,569 shares in the last quarter. 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.