Piper Jaffray Companies restated their buy rating on shares of 1st Source (NASDAQ:SRCE) in a research report released on Tuesday morning. They currently have a $59.00 target price on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the stock. ValuEngine raised shares of 1st Source from a hold rating to a buy rating in a report on Sunday, December 31st. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $53.00 price objective on shares of 1st Source in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of 1st Source from a buy rating to a hold rating in a report on Thursday, December 21st. BidaskClub downgraded shares of 1st Source from a buy rating to a hold rating in a report on Tuesday, December 12th. Finally, DA Davidson reaffirmed a hold rating and set a $53.00 price objective on shares of 1st Source in a report on Monday, October 23rd. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $55.75.

1st Source (SRCE) opened at $52.24 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market cap of $1,350.00, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.75 and a beta of 1.06. 1st Source has a fifty-two week low of $42.15 and a fifty-two week high of $53.29.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.66. The firm had revenue of $72.82 million for the quarter, compared to the consensus estimate of $70.20 million. 1st Source had a net margin of 21.74% and a return on equity of 9.43%. sell-side analysts anticipate that 1st Source will post 2.59 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in shares of 1st Source 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 buying an additional 137 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of 1st Source 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 buying an additional 620 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of 1st Source in the 3rd quarter worth about $212,000. Royal Bank of Canada boosted its holdings in shares of 1st Source by 598.4% in the 2nd quarter. Royal Bank of Canada now owns 4,281 shares of the financial services provider’s stock worth $205,000 after buying an additional 3,668 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of 1st Source in the 3rd quarter worth about $230,000. 70.33% of the stock is currently owned by institutional investors.

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About 1st Source

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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