Today The 1st Source Corporation (SRCE) Receives Average Recommendation of “Buy” from Brokerages

Today The 1st Source Corporation (SRCE) Receives Average Recommendation of “Buy” from Brokerages

Shares of 1st Source Corporation (NASDAQ:SRCE) have been given a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. 1st Source Corporation’s rating score has improved by 33.3% from 90 days ago as a result of various analysts’ ratings changes.

Brokers have set a 12 month consensus target price of $46.50 for the company and are expecting that the company will post $0.57 EPS for the current quarter, according to Zacks. Zacks has also assigned 1st Source Corporation an industry rank of 11 out of 265 based on the ratings given to its competitors.

A number of research analysts have recently weighed in on SRCE shares. Zacks Investment Research raised 1st Source Corporation from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective on the stock in a report on Tuesday, December 27th. Piper Jaffray Companies assumed coverage on 1st Source Corporation in a research note on Thursday, January 12th. They issued an “overweight” rating and a $47.00 target price on the stock.

1st Source Corporation (NASDAQ:SRCE) traded up 0.71% during mid-day trading on Wednesday, reaching $46.70. The company’s stock had a trading volume of 25,690 shares. The company has a market cap of $1.21 billion, a PE ratio of 21.04 and a beta of 0.98. 1st Source Corporation has a 12-month low of $28.18 and a 12-month high of $49.11. The firm’s 50 day moving average is $44.03 and its 200-day moving average is $37.46.

1st Source Corporation (NASDAQ:SRCE) last announced its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. 1st Source Corporation had a return on equity of 8.75% and a net margin of 20.59%. Equities analysts anticipate that 1st Source Corporation will post $2.39 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Monday, February 6th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.55%. 1st Source Corporation’s payout ratio is 32.43%.

In other news, VP John B. Griffith sold 2,500 shares of the company’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $39.08, for a total value of $97,700.00. Following the sale, the vice president now owns 39,363 shares in the company, valued at $1,538,306.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.52% of the stock is owned by corporate insiders.

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. 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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