Last Updated: 13 Sep 2024
Executive Summary
1st Source Corporation (SRCE) is a financial holding company that provides banking, trust and wealth advisory, and insurance services. The company has a market capitalization of $1.43 billion and is headquartered in South Bend, Indiana. SRCE has a strong financial performance with a trailing PE ratio of 11.36 and a dividend yield of 0.0246. The stock is currently trading at $57.93, which is below the analyst target price of $63.83.
Company Overview
1st Source Corporation is the holding company of 1st Source Bank, which provides a range of financial services to individuals and businesses in the Midwest. The company has a long history dating back to 1863 and is one of the largest banks in Indiana. SRCE offers a variety of products and services, including checking and savings accounts, loans, mortgages, and investment services. The company also provides trust and wealth advisory services, as well as insurance products.
Fundamental Analysis
SRCE has a strong financial performance. The company's revenue has grown by an average of 6.6% over the past five years, and its earnings per share have grown by an average of 14.4% over the same period. The company's profit margin is 0.348, and its return on equity is 0.122. SRCE has a strong balance sheet with a debt-to-equity ratio of 0.63.
Technical Analysis
The technical analysis of SRCE shows that the stock is currently in a downtrend. The stock price has been below its 50-day moving average for the past month and is currently trading below its 200-day moving average. The relative strength index (RSI) is currently at 34.3, which indicates that the stock is oversold.
Short Term Outlook
The short-term outlook for SRCE is mixed. The stock is currently trading below its analyst target price, and the technical analysis shows that the stock is in a downtrend. However, the company's fundamentals are strong, and the stock is oversold. As a result, investors may want to consider buying SRCE in the short term.
Long Term Outlook
The long-term outlook for SRCE is positive. The company's financial performance is strong, and the company is well-positioned to benefit from the growing economy. The stock is also trading at a discount to its analyst target price. As a result, investors may want to consider buying and holding SRCE for the long term.
Analyst Recommendations
The majority of analysts have a buy rating on SRCE. The consensus analyst target price is $63.83, which represents a potential upside of 10.3% from the current stock price.
