1st Source Co. (NASDAQ:SRCE) has been assigned an average recommendation of “Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $56.25.
Several research analysts have recently commented on SRCE shares. BidaskClub downgraded 1st Source from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research downgraded 1st Source from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $53.00 target price on shares of 1st Source in a research note on Friday, December 22nd. ValuEngine upgraded 1st Source from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $59.00 target price on shares of 1st Source in a research note on Tuesday, January 9th.
1st Source (NASDAQ SRCE) opened at $51.17 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $1,306.27, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 1.50 and a beta of 1.07. 1st Source has a one year low of $43.58 and a one year high of $54.00.
1st Source (NASDAQ:SRCE) last issued its earnings results on Friday, January 19th. The financial services provider reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). 1st Source had a return on equity of 9.30% and a net margin of 21.88%. The business had revenue of $74.49 million for the quarter, compared to the consensus estimate of $71.40 million. equities research analysts predict that 1st Source will post 3.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a dividend of $0.22 per share. This is an increase from 1st Source’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, February 2nd. 1st Source’s payout ratio is currently 33.72%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in 1st Source by 1.6% in the 4th quarter. BlackRock Inc. now owns 1,123,347 shares of the financial services provider’s stock valued at $55,549,000 after purchasing an additional 17,662 shares during the period. Vanguard Group Inc. boosted its stake in 1st Source by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 711,898 shares of the financial services provider’s stock valued at $34,129,000 after purchasing an additional 26,341 shares during the period. Janus Henderson Group PLC boosted its stake in 1st Source by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 401,064 shares of the financial services provider’s stock valued at $20,374,000 after purchasing an additional 21,502 shares during the period. State Street Corp boosted its stake in 1st Source by 5.5% in the 2nd quarter. State Street Corp now owns 306,993 shares of the financial services provider’s stock valued at $14,714,000 after purchasing an additional 16,134 shares during the period. Finally, Northern Trust Corp boosted its stake in 1st Source by 1.8% in the 2nd quarter. Northern Trust Corp now owns 260,547 shares of the financial services provider’s stock valued at $12,491,000 after purchasing an additional 4,542 shares during the period. Institutional investors own 69.21% of the company’s stock.
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1st Source 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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