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

1st Source (NASDAQ:SRCE)‘s stock had its “buy (b)” rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

1st Source Stock Performance

Shares of 1st Source stock traded up $0.35 on Friday, reaching $57.85. 59,248 shares of the company were exchanged, compared to its average volume of 51,594. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 11.02 and a beta of 0.82. The company’s 50-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 quick ratio of 0.94 and a current ratio of 0.94. 1st Source has a 1-year low of $47.30 and a 1-year high of $68.13.

1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.36 by $0.05. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. The business had revenue of $97.93 million during the quarter, compared to analyst estimates of $97.30 million. During the same quarter in the prior year, the firm earned $1.32 earnings per share. As a group, research analysts expect that 1st Source will post 5.36 earnings per share for the current fiscal year.

Institutional Trading of 1st Source

Several institutional investors have recently modified their holdings of SRCE. 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 buying an additional 21,254 shares in the last quarter. State Street Corp lifted its position in shares of 1st Source by 1.7% during the 3rd quarter. State Street Corp now owns 567,195 shares of the financial services provider’s stock valued at $33,964,000 after acquiring an additional 9,235 shares during the last quarter. Barclays PLC boosted its stake in shares of 1st Source by 162.2% during 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. Thrivent Financial for Lutherans grew its holdings in shares of 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 worth $1,989,000 after acquiring an additional 28,648 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of 1st Source by 95.8% during the third quarter. Harbor Capital Advisors Inc. now owns 28,110 shares of the financial services provider’s stock worth $1,683,000 after purchasing an additional 13,753 shares during the period. Institutional investors and hedge funds own 74.45% of the company’s stock.

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.