Piper Jaffray Companies Analysts Give 1st Source Corporation (SRCE) a $55.00 Price Target

Piper Jaffray Companies set a $55.00 price target on 1st Source Corporation (NASDAQ:SRCE) in a research report report published on Friday. The firm currently has a buy rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on the company. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $47.00 target price on shares of 1st Source Corporation in a research note on Sunday, July 23rd. Zacks Investment Research raised 1st Source Corporation from a hold rating to a buy rating and set a $53.00 target price on the stock in a research note on Tuesday, September 19th. BidaskClub raised 1st Source Corporation from a sell rating to a hold rating in a research note on Saturday, June 10th. Finally, ValuEngine cut 1st Source Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. 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 company. 1st Source Corporation currently has an average rating of Hold and a consensus target price of $51.67.

Shares of 1st Source Corporation (NASDAQ:SRCE) opened at 51.13 on Friday. The stock has a market cap of $1.33 billion, a PE ratio of 21.38 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 has a 50-day moving average price of $47.87 and a 200 day moving average price of $47.57.

1st Source Corporation (NASDAQ:SRCE) last issued its quarterly earnings data 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. 1st Source Corporation had a return on equity of 9.14% and a net margin of 21.41%. The company had revenue of $70.00 million for the quarter, compared to analysts’ expectations of $68.90 million. Equities research analysts expect that 1st Source Corporation will post $2.59 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Piper Jaffray Companies Analysts Give 1st Source Corporation (SRCE) a $55.00 Price Target” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/piper-jaffray-companies-analysts-give-1st-source-corporation-srce-a-55-00-price-target.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRCE. Legal & General Group Plc grew its stake in shares of 1st Source Corporation by 3.7% during the second quarter. Legal & General Group Plc now owns 3,866 shares of the financial services provider’s stock valued at $186,000 after buying an additional 137 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of 1st Source Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,133 shares of the financial services provider’s stock valued at $198,000 after buying an additional 620 shares during the last quarter. Royal Bank of Canada grew its stake in shares of 1st Source Corporation by 598.4% during the second quarter. Royal Bank of Canada now owns 4,281 shares of the financial services provider’s stock valued at $

A number of other research analysts have also recently commented on the company. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $47.00 target price on shares of 1st Source Corporation in a research note on Sunday, July 23rd. Zacks Investment Research raised 1st Source Corporation from a hold rating to a buy rating and set a $53.00 target price on the stock in a research note on Tuesday, September 19th. BidaskClub raised 1st Source Corporation from a sell rating to a hold rating in a research note on Saturday, June 10th. Finally, ValuEngine cut 1st Source Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. 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 company. 1st Source Corporation currently has an average rating of Hold and a consensus target price of $51.67.

Shares of 1st Source Corporation (NASDAQ:SRCE) opened at 51.13 on Friday. The stock has a market cap of $1.33 billion, a PE ratio of 21.38 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 has a 50-day moving average price of $47.87 and a 200 day moving average price of $47.57.

1st Source Corporation (NASDAQ:SRCE) last issued its quarterly earnings data 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. 1st Source Corporation had a return on equity of 9.14% and a net margin of 21.41%. The company had revenue of $70.00 million for the quarter, compared to analysts’ expectations of $68.90 million. Equities research analysts expect that 1st Source Corporation will post $2.59 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Piper Jaffray Companies Analysts Give 1st Source Corporation (SRCE) a $55.00 Price Target” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/piper-jaffray-companies-analysts-give-1st-source-corporation-srce-a-55-00-price-target.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRCE. Legal & General Group Plc grew its stake in shares of 1st Source Corporation by 3.7% during the second quarter. Legal & General Group Plc now owns 3,866 shares of the financial services provider’s stock valued at $186,000 after buying an additional 137 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of 1st Source Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,133 shares of the financial services provider’s stock valued at $198,000 after buying an additional 620 shares during the last quarter. Royal Bank of Canada grew its stake in shares of 1st Source Corporation by 598.4% during the second quarter. Royal Bank of Canada now owns 4,281 shares of the financial services provider’s stock valued at $205,000 after buying an additional 3,668 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of 1st Source Corporation during the first quarter valued at approximately $206,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of 1st Source Corporation during the first quarter valued at approximately $211,000. 70.22% of the stock is currently owned by hedge funds and other 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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