
1st Source (SRCE) Stock Forecast & Price Target
1st Source (SRCE) Analyst Ratings
Bulls say
1st Source Corp demonstrated a strong financial performance with a 4% increase in core fee income quarter-over-quarter, reaching $24.1 million, significantly surpassing consensus expectations, which was bolstered by robust wealth management revenue. In the second quarter, the company reported an increase in end-of-period loan balances by $235 million, reflecting growth across various segments, including commercial, agricultural, and renewable loans. Furthermore, the bank's ending loan-to-deposit ratio improved to 93%, indicating effective asset utilization and positioning for future growth.
Bears say
1st Source Corp has experienced significant declines in both interest-bearing time deposits and savings deposits, with decreases of 5% and 9% respectively, suggesting a potential reduction in customer confidence or liquidity issues. Additionally, operating expenses, while slightly lower, remain high, and there is an expectation for normalization of revenue in the upcoming quarter, indicating potential future revenue challenges. Furthermore, the bank faces heightened risks related to increased credit costs, reduced loan demand, and margin pressures, which are expected to be exacerbated by the current interest rate environment, raising concerns about the company's financial stability.
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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