Shares of 1st Source Corporation (NASDAQ:SRCE) have been given an average recommendation of “Hold” by the six analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $52.00.

SRCE has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Tuesday, August 29th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 target price on shares of 1st Source Corporation in a report on Tuesday, October 3rd. ValuEngine lowered shares of 1st Source Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Piper Jaffray Companies set a $55.00 target price on shares of 1st Source Corporation and gave the company a “buy” rating in a report on Friday, October 6th. Finally, BidaskClub lowered shares of 1st Source Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 18th.

Several large investors have recently bought and sold shares of SRCE. Janus Henderson Group PLC bought a new stake in shares of 1st Source Corporation during the second quarter worth about $18,196,000. AQR Capital Management LLC increased its position in shares of 1st Source Corporation by 89.7% during the first quarter. AQR Capital Management LLC now owns 140,352 shares of the financial services provider’s stock worth $6,589,000 after acquiring an additional 66,372 shares in the last quarter. FMR LLC increased its position in shares of 1st Source Corporation by 29.6% during the first quarter. FMR LLC now owns 285,660 shares of the financial services provider’s stock worth $13,412,000 after acquiring an additional 65,300 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of 1st Source Corporation by 10.3% during the second quarter. Alliancebernstein L.P. now owns 574,353 shares of the financial services provider’s stock worth $27,534,000 after acquiring an additional 53,820 shares in the last quarter. Finally, Systematic Financial Management LP bought a new stake in shares of 1st Source Corporation during the second quarter worth about $1,522,000. 70.22% of the stock is owned by institutional investors.

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Shares of 1st Source Corporation (NASDAQ:SRCE) opened at 52.20 on Monday. The company has a 50 day moving average of $49.45 and a 200-day moving average of $48.02. The company has a market cap of $1.35 billion, a PE ratio of 21.83 and a beta of 1.07. 1st Source Corporation has a 52-week low of $33.27 and a 52-week high of $52.99.

1st Source Corporation (NASDAQ:SRCE) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $72.82 million for the quarter, compared to analyst estimates of $70.20 million. 1st Source Corporation had a net margin of 21.74% and a return on equity of 9.52%. Analysts forecast that 1st Source Corporation will post $2.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 3rd. This is an increase from 1st Source Corporation’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. 1st Source Corporation’s payout ratio is presently 30.40%.

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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