1st Source (NASDAQ:SRCE) Price Target Raised to $69.00

1st Source (NASDAQ:SRCE - Free Report) had its price objective lifted by Keefe, Bruyette & Woods from $67.00 to $69.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a market perform rating on the financial services provider's stock.

SRCE has been the topic of a number of other reports. Piper Sandler upgraded shares of 1st Source from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $70.00 to $72.50 in a research report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of 1st Source in a research report on Saturday, January 18th.

1st Source Price Performance

Shares of 1st Source stock traded up $4.38 during trading on Monday, hitting $61.91. 149,782 shares of the company's stock traded hands, compared to its average volume of 67,005. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. The firm's fifty day moving average price is $60.81 and its 200 day moving average price is $60.40. 1st Source has a twelve month low of $47.30 and a twelve month high of $68.13. The company has a market cap of $1.52 billion, a PE ratio of 11.79 and a beta of 0.82.

1st Source (NASDAQ:SRCE - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. Analysts forecast that 1st Source will post 5.46 earnings per share for the current year.

1st Source Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be paid 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 (DPR) is 27.43%.

Institutional Investors Weigh In On 1st Source

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in 1st Source by 152.7% during the third quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider's stock worth $2,106,000 after purchasing an additional 21,254 shares during the last quarter. State Street Corp increased its position in 1st Source by 1.7% during the third quarter. State Street Corp now owns 567,195 shares of the financial services provider's stock worth $33,964,000 after acquiring an additional 9,235 shares during the period. Barclays PLC increased its position in 1st Source by 162.2% during the third quarter. Barclays PLC now owns 41,525 shares of the financial services provider's stock worth $2,487,000 after acquiring an additional 25,687 shares during the period. Thrivent Financial for Lutherans increased its holdings in 1st Source by 625.6% in the 3rd 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 during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in 1st Source by 95.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 28,110 shares of the financial services provider's stock valued at $1,683,000 after buying an additional 13,753 shares during the period. Institutional investors own 74.45% of the company's stock.

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.