1st Source Corporation (NASDAQ:SRCE) has been assigned a $55.00 price objective by investment analysts at Piper Jaffray Companies in a report issued on Friday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 7.57% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $47.00 target price on shares of 1st Source Corporation in a research report on Sunday, July 23rd. Zacks Investment Research raised shares of 1st Source Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Tuesday, September 19th. BidaskClub raised shares of 1st Source Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, ValuEngine downgraded shares of 1st Source Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. 1st Source Corporation presently has a consensus rating of “Hold” and an average target price of $51.67.

1st Source Corporation (NASDAQ:SRCE) opened at 51.13 on Friday. The firm has a 50-day moving average of $47.87 and a 200 day moving average of $47.57. The firm has a market cap of $1.33 billion, a P/E ratio of 21.38 and a beta of 1.07. 1st Source Corporation has a 1-year low of $33.27 and a 1-year high of $51.86.

1st Source Corporation (NASDAQ:SRCE) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $70.00 million during the quarter, compared to the consensus estimate of $68.90 million. 1st Source Corporation had a net margin of 21.41% and a return on equity of 9.14%. On average, analysts predict that 1st Source Corporation will post $2.59 EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of 1st Source Corporation by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 3,866 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 137 shares during the last quarter. Bessemer Group Inc. increased its position in shares of 1st Source Corporation by 1.2% in the 2nd quarter. Bessemer Group Inc. now owns 28,951 shares of the financial services provider’s stock worth $1,388,000 after purchasing an additional 341 shares during the last quarter. Teachers Advisors LLC increased its position in shares of 1st Source Corporation by 2.2% in the 1st quarter. Teachers Advisors LLC now owns 26,556 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 572 shares during the last quarter. Bank of America Corp DE increased its position in shares of 1st Source Corporation by 11.6% in the 1st quarter. Bank of America Corp DE now owns 5,974 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 620 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of 1st Source Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,133 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 620 shares during the last quarter. 70.22% of the stock is owned by institutional investors.

About 1st Source Corporation

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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