1st Source’s (SRCE) Buy (B) Rating Reiterated at Weiss Ratings

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

A number of other equities analysts have also weighed in on the company. Piper Sandler upgraded 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 increased 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 Price Performance

NASDAQ:SRCE opened at $61.50 on Friday. The business’s 50-day moving average price is $62.38 and its 200 day moving average price is $61.44. The firm has a market cap of $1.51 billion, a P/E ratio of 11.47 and a beta of 0.78. 1st Source has a 52-week low of $47.30 and a 52-week high of $68.13. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE) last released its earnings results 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 11.92% and a net margin of 23.10%. As a group, sell-side analysts predict that 1st Source will post 5.82 earnings per share for the current fiscal year.

1st Source Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.34%. 1st Source’s dividend payout ratio (DPR) is 26.87%.

Institutional Investors Weigh In On 1st Source

A number of institutional investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC boosted its position in 1st Source by 2.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 10,124 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 221 shares during the period. Aquatic Capital Management LLC boosted its position in 1st Source by 14.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,515 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 315 shares during the period. Isthmus Partners LLC boosted its position in 1st Source by 0.6% during the 4th quarter. Isthmus Partners LLC now owns 54,649 shares of the financial services provider’s stock worth $3,190,000 after acquiring an additional 328 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 1st Source by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,444 shares of the financial services provider’s stock worth $610,000 after acquiring an additional 388 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in 1st Source by 61.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 465 shares during the period. 74.45% of the stock is currently owned by institutional investors and hedge funds.

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.