Keefe, Bruyette & Woods reiterated their hold rating on shares of 1st Source Corporation (NASDAQ:SRCE) in a research report report published on Tuesday morning. They currently have a $47.00 target price on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of 1st Source Corporation from a hold rating to a buy rating and set a $51.00 price target for the company in a report on Saturday, August 19th. ValuEngine raised shares of 1st Source Corporation from a hold rating to a buy rating in a report on Monday, August 7th. Piper Jaffray Companies set a $55.00 price target on shares of 1st Source Corporation and gave the stock a buy rating in a report on Wednesday, July 26th. Finally, BidaskClub raised shares of 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, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $51.67.

Shares of 1st Source Corporation (SRCE) traded up 0.39% on Tuesday, reaching $51.80. The company’s stock had a trading volume of 1,999 shares. The stock has a market cap of $1.34 billion, a P/E ratio of 21.66 and a beta of 1.07. 1st Source Corporation has a 12 month low of $33.27 and a 12 month high of $51.86. The firm’s 50-day moving average price is $47.50 and its 200-day moving average price is $47.49.

1st Source Corporation (NASDAQ:SRCE) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. The business had revenue of $70.00 million for the quarter, compared to analyst estimates 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 forecast that 1st Source Corporation will post $2.59 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of 1st Source Corporation by 3.7% in the second 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. Victory Capital Management Inc. raised its stake in 1st Source Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,133 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 620 shares in the last quarter. Royal Bank of Canada raised its stake in 1st Source Corporation by 598.4% in the second quarter. Royal Bank of Canada now owns 4,281 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 3,668 shares in the last quarter. Karp Capital Management Corp purchased a new stake in 1st Source Corporation in the first quarter valued at approximately $206,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in 1st Source Corporation in the first quarter valued at approximately $211,000. 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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