1st Source's (SRCE) "Buy (B)" Rating Reiterated at Weiss Ratings

1st Source (NASDAQ:SRCE - Get Free Report)'s stock had its "buy (b)" rating reissued by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

SRCE has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their price objective on 1st Source from $67.00 to $69.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Piper Sandler raised 1st Source from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $70.00 to $72.50 in a research note on Monday, January 27th.

1st Source Trading Down 1.8 %

Shares of 1st Source stock traded down $1.19 on Wednesday, hitting $63.83. The stock had a trading volume of 70,548 shares, compared to its average volume of 96,046. The firm has a market capitalization of $1.57 billion, a P/E ratio of 11.91 and a beta of 0.81. The stock has a 50 day moving average of $60.87 and a 200 day moving average of $60.91. 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 released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. 1st Source had a net margin of 23.10% and a return on equity of 11.92%. Sell-side analysts expect that 1st Source will post 5.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. New York State Teachers Retirement System grew its position in 1st Source by 12.2% in the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider's stock worth $100,000 after acquiring an additional 182 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in 1st Source by 2.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 10,124 shares of the financial services provider's stock worth $591,000 after buying an additional 221 shares in the last quarter. Aquatic Capital Management LLC grew its position in shares of 1st Source by 14.3% in the 4th quarter. Aquatic Capital Management LLC now owns 2,515 shares of the financial services provider's stock worth $147,000 after buying an additional 315 shares during the last quarter. Isthmus Partners LLC increased its holdings in shares of 1st Source by 0.6% during the fourth quarter. Isthmus Partners LLC now owns 54,649 shares of the financial services provider's stock valued at $3,190,000 after acquiring an additional 328 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 1st Source by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,444 shares of the financial services provider's stock worth $610,000 after acquiring an additional 388 shares during the last quarter. 74.45% of the stock is owned by hedge funds and other institutional investors.

About 1st Source

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.