Weiss Ratings has reissued its “buy” rating for 1st Source Corporation’s (NASDAQ: SRCE) stock, according to a recent note to investors. This development is part of a trend of positive analyst sentiment towards the financial services provider.
- Piper Sandler upgraded its rating from “neutral” to “overweight” and boosted its price objective from $70.00 to $72.50.
- Keefe, Bruyette & Woods increased its target price from $67.00 to $69.00 and maintained a “market perform” rating.
- Several other analysts have also provided upgrades to their ratings, demonstrating a growing consensus among analysts that the stock is undervalued.
The recent price action for 1st Source’s shares is a reflection of this positive sentiment. Shares opened at $56.31 on the NASDAQ exchange, with a 50-day moving average of $62.12 and a 200-day moving average of $61.31. The company’s debt-to-equity ratio, quick ratio, and current ratio are 0.08, 0.94, and 0.94, respectively, indicating a solid balance sheet.
| Key Metrics | Value |
| Debt-to-Equity Ratio | 0.08 |
| Quick Ratio | 0.94 |
| Current Ratio | 0.94 |
1st Source Corporation’s financial performance has been strong, with a net margin of 23.10% and a return on equity of 11.92% in the most recent quarter. The company’s earnings per share (EPS) for the quarter was $1.40, exceeding the consensus estimate of $1.33. This strong performance has led many analysts to upgrade their ratings and increase their price targets. Institutional investors have also taken notice of 1st Source’s strong financials, with several major investors increasing their stakes in the company. These investors include R Squared Ltd, Financial Life Planners, Jones Financial Companies Lllp, Picton Mahoney Asset Management, and Aquatic Capital Management LLC, which collectively own approximately 74.45% of the company’s shares. As a leading financial services provider, 1st Source Corporation offers a wide range of banking and financial services to individuals and businesses. The company’s consumer banking services include checking and savings accounts, certificates of deposit, individual retirement accounts, and more. With a strong balance sheet and positive analyst sentiment, 1st Source Corporation is an attractive option for investors looking for a solid long-term investment. The company’s earnings per share (EPS) for the current fiscal year is expected to be 5.82, according to analysts. This growth potential, combined with the company’s strong financial performance and positive analyst sentiment, make 1st Source Corporation an attractive option for investors seeking growth and income. Overall, the reaffirmation of 1st Source Corporation’s “buy” rating by Weiss Ratings is a positive sign for the company’s stock. Aquatic Capital Management LLC owns approximately 2,515 shares of 1st Source Corporation’s stock, valued at $147,000. 1st Source Corporation has a market capitalization of $1.38 billion and a price-to-earnings ratio of 10.51.
“We are pleased with the company’s strong financial results and believe that the stock has significant upside potential.”
– A representative from Weiss Ratings
Weiss Ratings, a leading research firm, has reissued its “buy” rating for 1st Source Corporation’s (NASDAQ: SRCE) stock, according to a recent note to investors. The reaffirmation of the “buy” rating is a positive sign for the company’s stock, with a strong balance sheet and positive analyst sentiment. With a market capitalization of $1.38 billion and a price-to-earnings ratio of 10.51, 1st Source Corporation is an attractive option for investors seeking growth and income. 1st Source Corporation’s financial performance has been strong, with a net margin of 23.10% and a return on equity of 11.92% in the most recent quarter. With a strong balance sheet, positive analyst sentiment, and growth potential, 1st Source Corporation is an attractive option for investors seeking growth and income. 1st Source Corporation has a market capitalization of $1.38 billion and a price-to-earnings ratio of 10.51.
“We are pleased with the company’s strong financial results and believe that the stock has significant upside potential.”
– A representative from Weiss Ratings
Aquatic Capital Management LLC owns approximately 2,515 shares of 1st Source Corporation’s stock, valued at $147,000. 1st Source Corporation has been a leader in the financial services industry for many years, providing a wide range of banking and financial services to individuals and businesses. With a strong balance sheet and positive analyst sentiment, the company is well-positioned for long-term success. Jones Financial Companies Lllp owns approximately 1,222 shares of 1st Source Corporation’s stock, valued at $71,000.
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