1st Source (NASDAQ:SRCE) Given "Buy (B)" Rating at Weiss Ratings

1st Source (NASDAQ:SRCE - Get Free Report)'s stock had its "buy (b)" rating reiterated by equities researchers at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

1st Source Trading Up 0.6 %

NASDAQ:SRCE traded up $0.35 on Friday, reaching $57.85. The stock had a trading volume of 59,248 shares, compared to its average volume of 51,594. 1st Source has a 12-month low of $47.30 and a 12-month high of $68.13. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 11.02 and a beta of 0.82. The firm's fifty day moving average is $61.65 and its two-hundred day moving average is $60.18. 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 issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.05. The company had revenue of $97.93 million during the quarter, compared to the consensus estimate of $97.30 million. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. During the same period in the previous year, the firm posted $1.32 EPS. Equities analysts expect that 1st Source will post 5.36 EPS for the current fiscal year.

Institutional Trading of 1st Source

Several large investors have recently added to or reduced their stakes in SRCE. Thrivent Financial for Lutherans grew its stake in shares of 1st Source by 625.6% in the third quarter. Thrivent Financial for Lutherans now owns 33,227 shares of the financial services provider's stock valued at $1,989,000 after buying an additional 28,648 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of 1st Source during the third quarter valued at approximately $1,713,000. Barclays PLC raised its stake in shares of 1st Source by 162.2% during the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider's stock valued at $2,487,000 after purchasing an additional 25,687 shares during the period. JPMorgan Chase & Co. lifted its position in shares of 1st Source by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 91,019 shares of the financial services provider's stock worth $5,450,000 after purchasing an additional 24,470 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of 1st Source by 152.7% in the third quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider's stock valued at $2,106,000 after purchasing an additional 21,254 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.