1st Source (NASDAQ:SRCE) Receives "Buy (B)" Rating from Weiss Ratings

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

Several other equities analysts have also weighed in on SRCE. Piper Sandler raised shares of 1st Source from a "neutral" rating to an "overweight" rating and increased their price objective 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 shares of 1st Source from $67.00 to $69.00 and gave the company a "market perform" rating in a report on Monday, January 27th.

1st Source Stock Performance

NASDAQ:SRCE traded down $0.53 during mid-day trading on Friday, hitting $65.21. The stock had a trading volume of 101,287 shares, compared to its average volume of 73,311. The company's 50 day simple moving average is $60.49 and its 200 day simple moving average is $60.66. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 12.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. 1st Source has a twelve month low of $47.30 and a twelve month high of $68.13.

1st Source (NASDAQ:SRCE - Get Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. 1st Source had a return on equity of 12.07% and a net margin of 23.10%. On average, equities research analysts forecast that 1st Source will post 5.82 earnings per share for the current year.

1st Source Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.21%. The ex-dividend date is Tuesday, February 4th. 1st Source's payout ratio is 26.87%.

Institutional Investors Weigh In On 1st Source

A number of institutional investors have recently modified their holdings of the business. Isthmus Partners LLC increased its position in 1st Source by 0.6% during the fourth 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. Raymond James Financial Inc. bought a new position in shares of 1st Source during the fourth quarter worth approximately $250,000. Victory Capital Management Inc. increased its holdings in shares of 1st Source by 25.1% during the fourth quarter. Victory Capital Management Inc. now owns 8,636 shares of the financial services provider's stock worth $504,000 after purchasing an additional 1,735 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of 1st Source by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,941 shares of the financial services provider's stock valued at $34,616,000 after buying an additional 6,569 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of 1st Source by 61.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider's stock valued at $71,000 after buying an additional 465 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.