1st Source Corp. (SRCE) Upgraded to Hold by Zacks Investment Research
According to Zacks, “1ST SOURCE CORP.is a bank holding company engaged in general banking business. The bank offers a broad range of commercial banking, personal banking and trust services. In addition, 1st Source Bank provides highly specialized financing services for: automobile fleets in the rental and leasing industries; privately-held used aircraft; heavy duty trucks and construction equipment.These services are marketed nationwide. “
Separately, DA Davidson initiated coverage on shares of 1st Source Corp. in a research note on Thursday, July 21st. They set a “neutral” rating and a $36.00 price objective for the company.
1st Source Corp. (NASDAQ:SRCE) opened at 39.51 on Friday. The firm’s 50 day moving average is $35.62 and its 200 day moving average is $34.27. 1st Source Corp. has a 52-week low of $27.01 and a 52-week high of $41.64. The company has a market cap of $1.02 billion, a PE ratio of 18.21 and a beta of 0.90.
1st Source Corp. (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by $0.03. 1st Source Corp. had a net margin of 20.46% and a return on equity of 8.68%. Analysts forecast that 1st Source Corp. will post $2.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 11th. Investors of record on Tuesday, November 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, October 28th. 1st Source Corp.’s payout ratio is currently 32.88%.
1st Source Corp. Company Profile
1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. 1st Source Bank (the Bank), its banking subsidiary, offers commercial and consumer banking services, trust and investment management services, and insurance to individual and business clients through its approximately 80 banking center locations in over 20 counties in Indiana and Michigan.
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