Keefe, Bruyette & Woods restated their hold rating on shares of 1st Source Corporation (NASDAQ:SRCE) in a research report sent to investors on Sunday, July 23rd. The brokerage currently has a $47.00 target price on the financial services provider’s stock.

A number of other equities research analysts have also commented on the company. Zacks Investment Research upgraded 1st Source Corporation from a hold rating to a buy rating and set a $56.00 price objective for the company in a research report on Wednesday, April 26th. ValuEngine upgraded 1st Source Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded 1st Source Corporation from a sell rating to a hold rating in a report on Saturday, June 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. 1st Source Corporation presently has a consensus rating of Hold and an average price target of $51.00.

1st Source Corporation (NASDAQ SRCE) traded up 0.61% during mid-day trading on Friday, reaching $46.10. 39,073 shares of the company were exchanged. The stock’s 50-day moving average is $48.32 and its 200-day moving average is $47.12. 1st Source Corporation has a 12 month low of $33.27 and a 12 month high of $50.78. The company has a market cap of $1.20 billion, a P/E ratio of 19.28 and a beta of 1.03.

1st Source Corporation (NASDAQ:SRCE) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. 1st Source Corporation had a return on equity of 9.14% and a net margin of 21.41%. The firm had revenue of $70 million during the quarter, compared to analyst estimates of $68.90 million. Equities analysts expect that 1st Source Corporation will post $2.59 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, August 3rd. 1st Source Corporation’s payout ratio is 31.80%.

Several hedge funds and other institutional investors have recently modified their holdings of SRCE. Bank of New York Mellon Corp increased its position in shares of 1st Source Corporation by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 118,020 shares of the financial services provider’s stock worth $5,541,000 after buying an additional 6,974 shares during the last quarter. First Trust Advisors LP increased its position in shares of 1st Source Corporation by 5.7% in the first quarter. First Trust Advisors LP now owns 101,860 shares of the financial services provider’s stock worth $4,782,000 after buying an additional 5,487 shares during the last quarter. Reinhart Partners Inc. increased its position in shares of 1st Source Corporation by 1.0% in the first quarter. Reinhart Partners Inc. now owns 76,978 shares of the financial services provider’s stock worth $3,614,000 after buying an additional 776 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of 1st Source Corporation during the first quarter worth $762,000. Finally, First Mercantile Trust Co. bought a new position in shares of 1st Source Corporation during the first quarter worth $291,000. 69.53% of the stock is currently owned by institutional investors and hedge funds.

1st Source Corporation Company Profile

1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.

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