1st Source Co. (NASDAQ:SRCE – Get Free Report) shot up 7.5% during mid-day trading on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $67.00 to $69.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. 1st Source traded as high as $62.01 and last traded at $61.83. 38,739 shares were traded during trading, a decline of 35% from the average session volume of 59,806 shares. The stock had previously closed at $57.53.
A number of other analysts 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 report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of 1st Source in a research note on Saturday, January 18th.
View Our Latest Stock Report on SRCE
Hedge Funds Weigh In On 1st Source
1st Source Stock Performance
The stock’s 50-day moving average price is $60.71 and its 200 day moving average price is $60.48. The firm has a market cap of $1.52 billion, a P/E ratio of 11.77 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94.
1st Source (NASDAQ:SRCE – Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. As a group, equities analysts predict that 1st Source Co. will post 5.46 EPS for the current year.
1st Source Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Tuesday, February 4th. 1st Source’s dividend payout ratio is currently 27.43%.
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.
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