Fintel reports that on July 24, 2023, Piper Sandler maintained coverage of 1st Source (NASDAQ:SRCE) with a Overweight recommendation.
Analyst Price Forecast Suggests 3.89% Upside
As of July 6, 2023, the average one-year price target for 1st Source is 47.26. The forecasts range from a low of 45.45 to a high of $51.45. The average price target represents an increase of 3.89% from its latest reported closing price of 45.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for 1st Source is 384MM, an increase of 7.11%. The projected annual non-GAAP EPS is 4.89.
What is the Fund Sentiment?
There are 356 funds or institutions reporting positions in 1st Source. This is a decrease of 16 owner(s) or 4.30% in the last quarter. Average portfolio weight of all funds dedicated to SRCE is 0.13%, a decrease of 31.21%. Total shares owned by institutions decreased in the last three months by 1.05% to 20,243K shares. 
The put/call ratio of SRCE is 26.10, indicating a bearish outlook.
What are Other Shareholders Doing?
1st Source Bank holds 7,402K shares representing 29.98% ownership of the company. In it's prior filing, the firm reported owning 7,404K shares, representing a decrease of 0.02%. The firm decreased its portfolio allocation in SRCE by 56.70% over the last quarter.
Alliancebernstein holds 734K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 759K shares, representing a decrease of 3.41%. The firm decreased its portfolio allocation in SRCE by 36.67% over the last quarter.
Wellington Management Group Llp holds 672K shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 647K shares, representing an increase of 3.69%. The firm decreased its portfolio allocation in SRCE by 88.23% over the last quarter.
Manufacturers Life Insurance Company, The holds 440K shares representing 1.78% ownership of the company. In it's prior filing, the firm reported owning 447K shares, representing a decrease of 1.58%. The firm decreased its portfolio allocation in SRCE by 28.33% over the last quarter.
Charles Schwab Investment Management holds 429K shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 446K shares, representing a decrease of 3.86%. The firm decreased its portfolio allocation in SRCE by 35.08% over the last quarter.
1st Source Background Information
(This description is provided by the company.)
Since 1863, 1st Source has been committed to the success of its clients, individuals, businesses and the communities it serves.
Additional reading:
- Exhibit 99.1
- INVESTOR PRESENTATION 1st Quarter 2023 NASDAQ: SRCE | www.1stsource.com DISCLOSURES Forward-Looking Statements Except for historical information, the matters discussed may include “forward-looking statements.” Those statements are subject to material
- 1st Source Corporation Elects New Member to its Board of Directors‚ Three Existing Directors Re-elected
- 1st Source Corporation Reports Strong First Quarter Results, Cash Dividend Declared QUARTERLY HIGHLIGHTS
- By-Laws of Registrant, as amended February 16, 2023, filed herewith.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
