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

1st Source (NASDAQ:SRCE) had its target price upped by Keefe, Bruyette & Woods from $67.00 to $69.00 in a research note issued to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler raised shares of 1st Source from a “neutral” rating to an “overweight” rating and upped their price target for the company from $70.00 to $72.50 in a report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of 1st Source in a report on Saturday, January 18th.

1st Source Trading Up 0.1 %

1st Source stock opened at $61.86 on Monday. 1st Source has a 12-month low of $47.30 and a 12-month high of $68.13. The stock has a market capitalization of $1.52 billion, a PE ratio of 11.78 and a beta of 0.82. The firm has a 50 day simple moving average of $60.66 and a 200-day simple moving average of $60.49. 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) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. As a group, equities research analysts expect that 1st Source will post 5.46 EPS for the current fiscal year.

1st Source Announces Dividend

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 paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, February 4th. 1st Source’s dividend payout ratio is presently 26.87%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in 1st Source by 625.6% during 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 purchasing an additional 28,648 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in 1st Source during the third quarter valued at $1,713,000. Barclays PLC lifted its stake in 1st Source by 162.2% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. boosted its position in 1st Source by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 91,019 shares of the financial services provider’s stock worth $5,450,000 after acquiring an additional 24,470 shares during the period. Finally, Jane Street Group LLC grew its stake in 1st Source by 152.7% during the 3rd quarter. Jane Street Group LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,106,000 after acquiring an additional 21,254 shares in the last quarter. 74.45% of the stock is owned by hedge funds and other institutional investors.

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.