
1st Source (SRCE) Stock Forecast & Price Target
1st Source (SRCE) Analyst Ratings
Bulls say
1st Source Corp demonstrated a positive financial trajectory with a 2% quarter-over-quarter increase in pre-provision net revenue (PPNR) to $49.4 million, surpassing estimates by nearly 10%, attributed to enhanced net interest income (NII) and improved fee income. The bank also experienced a notable 14% loan growth on a last-quarter annualized basis, driven by substantial increases in various sectors including construction equipment, commercial real estate, and aircraft financing. Furthermore, core fee income rose by 3% quarter-over-quarter to $23.2 million, reflecting solid demand for banking services and bolstering the overall outlook for the company.
Bears say
1st Source Corp's stock outlook appears negative due to a rise in operating expenses, which totaled $54.2 million, reflecting an increase of 7% quarter-over-quarter and exceeding expectations by 6-7%. Additionally, the company reported significant losses in securities amounting to $3.9 million and an $860,000 write-down on small business capital investments, indicating heightened financial pressures. Furthermore, the potential for reduced loan growth and margin compression, exacerbated by the prevailing interest rate environment, presents substantial risks to future earnings.
This aggregate rating is based on analysts' research of 1st Source and is not a guaranteed prediction by Public.com or investment advice.
1st Source (SRCE) Analyst Forecast & Price Prediction
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