1st Source (NASDAQ:SRCE) Earns “Buy (B)” Rating from Weiss Ratings

1st Source (NASDAQ:SRCE)‘s stock had its “buy (b)” rating restated by research analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

1st Source Stock Performance

Shares of SRCE opened at $57.85 on Friday. The company has a 50-day moving average of $61.65 and a two-hundred day moving average of $60.23. The stock has a market cap of $1.42 billion, a P/E ratio of 11.02 and a beta of 0.82. 1st Source has a 12-month low of $47.30 and a 12-month high of $68.13. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. The firm had revenue of $97.93 million for the quarter, compared to analyst estimates of $97.30 million. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. During the same quarter in the prior year, the company earned $1.32 EPS. As a group, research analysts predict that 1st Source will post 5.36 EPS for the current fiscal year.

Institutional Investors Weigh In On 1st Source

Several hedge funds have recently modified their holdings of SRCE. nVerses Capital LLC lifted its stake in shares of 1st Source by 150.0% during the third quarter. nVerses Capital LLC now owns 1,000 shares of the financial services provider’s stock valued at $60,000 after buying an additional 600 shares during the period. New York State Teachers Retirement System raised its holdings in 1st Source by 12.2% in the 3rd quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 182 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of 1st Source during the 3rd quarter worth $122,000. CWM LLC lifted its stake in shares of 1st Source by 122.7% during the 3rd quarter. CWM LLC now owns 3,035 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 1,672 shares during the period. Finally, AMI Investment Management Inc. acquired a new stake in shares of 1st Source during the third quarter worth $206,000. 74.45% of the stock is owned by institutional investors and hedge funds.

About 1st Source

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products to individual and business clients. Its consumer banking services include checking and savings accounts; certificates of deposit; individual retirement accounts; online and mobile banking products; consumer loans, real estate mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.