Piper Jaffray Companies set a $55.00 target price on 1st Source Corporation (NASDAQ:SRCE) in a research report report published on Friday, October 6th. The brokerage currently has a buy rating on the financial services provider’s stock.
A number of other equities analysts have also issued reports on SRCE. BidaskClub raised shares of 1st Source Corporation from a sell rating to a hold rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reissued a hold rating and set a $47.00 price target on shares of 1st Source Corporation in a research report on Sunday, July 23rd. Zacks Investment Research raised shares of 1st Source Corporation from a hold rating to a buy rating and set a $55.00 price target for the company in a research report on Tuesday, July 25th. Finally, ValuEngine raised shares of 1st Source Corporation from a hold rating to a buy rating in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $51.67.
Shares of 1st Source Corporation (NASDAQ:SRCE) opened at 52.17 on Friday. 1st Source Corporation has a 1-year low of $33.27 and a 1-year high of $52.96. The company has a market cap of $1.35 billion, a PE ratio of 21.82 and a beta of 1.07. The firm’s 50 day moving average is $49.14 and its 200-day moving average is $47.95.
1st Source Corporation (NASDAQ:SRCE) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $70.00 million during the quarter, compared to analyst estimates of $68.90 million. 1st Source Corporation had a net margin of 21.41% and a return on equity of 9.14%. Equities analysts expect that 1st Source Corporation will post $2.59 earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in SRCE. Wellington Management Group LLP grew its stake in 1st Source Corporation by 301.3% in the 1st quarter. Wellington Management Group LLP now owns 1,061,773 shares of the financial services provider’s stock valued at $49,850,000 after acquiring an additional 797,158 shares during the period. Janus Henderson Group PLC acquired a new stake in 1st Source Corporation in the 2nd quarter valued at $18,196,000. United Services Automobile Association acquired a new stake in 1st Source Corporation in the 1st quarter valued at $4,005,000. AQR Capital Management LLC boosted its stake in 1st Source Corporation by 89.7% during the 1st quarter. AQR Capital Management LLC now owns 140,352 shares of the financial services provider’s stock worth $6,589,000 after purchasing an additional 66,372 shares during the last quarter. Finally, FMR LLC boosted its stake in 1st Source Corporation by 29.6% during the 1st quarter. FMR LLC now owns 285,660 shares of the financial services provider’s stock worth $13,412,000 after purchasing an additional 65,300 shares during the last quarter. 70.22% of the stock is currently owned by hedge funds and other 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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