
1st Source (SRCE) Stock Forecast & Price Target
1st Source (SRCE) Analyst Ratings
Bulls say
1st Source Corp reported a 4% increase in core fee income quarter-on-quarter, reaching $24.1 million, which was 5% above consensus expectations, driven by a rise in wealth management revenue. Additionally, the bank experienced substantial loan growth, with end-of-period loan balances increasing by $235 million, particularly in commercial, agricultural, and renewable sectors. The company's efforts in managing its loan-to-deposit ratio also showed positive trends, rising to 93% as of June 30, indicating a healthy balance between lending and deposit levels.
Bears say
1st Source Corp is experiencing declining interest-bearing time and savings deposits, with significant decreases of 5% and 9% quarter-over-quarter, respectively. Additionally, the bank's revenue, particularly in certain lines, is anticipated to normalize lower in the upcoming quarter, which reflects potential challenges in maintaining consistent income streams. Furthermore, there are heightened risks regarding the earnings outlook, specifically concerning increased credit costs, reduced loan demand, and margin pressures exacerbated by the prevailing interest rate environment.
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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