Fintel reports that on January 27, 2025, Piper Sandler upgraded their outlook for 1st Source (NasdaqGS:SRCE) from Neutral to Overweight.
Analyst Price Forecast Suggests 18.79% Upside
As of December 23, 2024, the average one-year price target for 1st Source is $68.34/share. The forecasts range from a low of $64.64 to a high of $73.50. The average price target represents an increase of 18.79% from its latest reported closing price of $57.53 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for 1st Source is 382MM, an increase of 2.03%. The projected annual non-GAAP EPS is 4.45.
What is the Fund Sentiment?
There are 425 funds or institutions reporting positions in 1st Source. This is an increase of 39 owner(s) or 10.10% in the last quarter. Average portfolio weight of all funds dedicated to SRCE is 0.13%, an increase of 0.04%. Total shares owned by institutions increased in the last three months by 1.32% to 20,155K shares. 
The put/call ratio of SRCE is 0.02, indicating a bullish outlook.
What are Other Shareholders Doing?
1st Source Bank holds 5,376K shares representing 21.93% ownership of the company. In its prior filing, the firm reported owning 6,262K shares , representing a decrease of 16.49%. The firm decreased its portfolio allocation in SRCE by 14.47% over the last quarter.
Charles Schwab Investment Management holds 586K shares representing 2.39% ownership of the company. In its prior filing, the firm reported owning 584K shares , representing an increase of 0.32%. The firm decreased its portfolio allocation in SRCE by 11.60% over the last quarter.
Wellington Management Group Llp holds 555K shares representing 2.27% ownership of the company. In its prior filing, the firm reported owning 842K shares , representing a decrease of 51.64%. The firm decreased its portfolio allocation in SRCE by 89.87% over the last quarter.
IWM - iShares Russell 2000 ETF holds 526K shares representing 2.15% ownership of the company. In its prior filing, the firm reported owning 402K shares , representing an increase of 23.61%. The firm increased its portfolio allocation in SRCE by 26.12% over the last quarter.
Alliancebernstein holds 507K shares representing 2.07% ownership of the company. In its prior filing, the firm reported owning 555K shares , representing a decrease of 9.62%. The firm increased its portfolio allocation in SRCE by 33.45% 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.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
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.
