ValuEngine upgraded shares of 1st Source Corporation (NASDAQ:SRCE) from a hold rating to a buy rating in a report issued on Monday, August 7th.
A number of other equities analysts have also recently commented on SRCE. Zacks Investment Research raised shares of 1st Source Corporation from a hold rating to a buy rating and set a $56.00 price objective for the company in a research note on Wednesday, April 26th. BidaskClub raised shares of 1st Source Corporation from a sell rating to a hold rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $47.00 price target on shares of 1st Source Corporation in a research note on Sunday, July 23rd. Finally, Piper Jaffray Companies set a $55.00 price target on shares of 1st Source Corporation and gave the stock a buy rating in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $51.00.
Shares of 1st Source Corporation (NASDAQ SRCE) traded up 0.61% on Monday, reaching $46.10. 39,073 shares of the company traded hands. The stock has a 50-day moving average price of $48.32 and a 200 day moving average price of $47.12. 1st Source Corporation has a 1-year low of $33.27 and a 1-year high of $50.78. The firm has a market capitalization of $1.20 billion, a P/E ratio of 19.28 and a beta of 1.03.
1st Source Corporation (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. 1st Source Corporation had a net margin of 21.41% and a return on equity of 9.14%. The business had revenue of $70 million during the quarter, compared to analysts’ expectations of $68.90 million. Analysts anticipate that 1st Source Corporation will post $2.59 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.65%. 1st Source Corporation’s dividend payout ratio is presently 31.80%.
Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in 1st Source Corporation by 301.3% in the first quarter. Wellington Management Group LLP now owns 1,061,773 shares of the financial services provider’s stock worth $49,850,000 after buying an additional 797,158 shares in the last quarter. Vanguard Group Inc. boosted its position in 1st Source Corporation by 3.8% in the second quarter. Vanguard Group Inc. now owns 711,898 shares of the financial services provider’s stock worth $34,129,000 after buying an additional 26,341 shares in the last quarter. Alliancebernstein L.P. boosted its position in 1st Source Corporation by 10.3% in the second quarter. Alliancebernstein L.P. now owns 574,353 shares of the financial services provider’s stock worth $27,534,000 after buying an additional 53,820 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of 1st Source Corporation during the second quarter worth $18,196,000. Finally, State Street Corp raised its stake in shares of 1st Source Corporation by 5.5% in the second quarter. State Street Corp now owns 306,993 shares of the financial services provider’s stock worth $14,714,000 after buying an additional 16,134 shares during the last quarter. 69.53% of the stock is owned by hedge funds and other institutional investors.
1st Source Corporation Company Profile
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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