1st Source Expands Renewable Energy Financing Division

An update from 1St Source ( (SRCE) ) is now available.

1st Source Corporation has launched instant payment systems, Real Time Payments (RTP) and FedNow, in 2023, facilitating over $418 million in transactions and more than 345,000 total transactions. The company continues to expand its renewable energy financing division, with over $603 million in loans and leases outstanding and $184 million invested in tax equity partnerships, contributing to significant environmental impact by reducing carbon emissions.

The most recent analyst rating on (SRCE) stock is a Buy with a $65.00 price target. To see the full list of analyst forecasts on 1St Source stock, see the SRCE Stock Forecast page.

Spark’s Take on SRCE Stock

According to Spark, TipRanks’ AI Analyst, SRCE is a Outperform.

1st Source’s overall stock score is driven by its solid financial performance and attractive valuation. However, technical indicators suggest a bearish trend, which may pose short-term risks. The company should focus on improving cash flow metrics to enhance its financial stability.

To see Spark’s full report on SRCE stock, click here.

More about 1St Source

1st Source Corporation, founded in 1863 and headquartered in South Bend, Indiana, is a $9.1 billion community bank with international reach. The company offers a wide range of financial services including business and personal banking, payment services, lending, mortgage, leasing, investment management, wealth advisory, estate planning, and retirement planning. It also provides renewable energy financing and specialty finance services, such as auto and truck rental and leasing, construction machinery, and corporate and personal aircraft financing.

Average Trading Volume: 77,903

Technical Sentiment Signal: Buy

Current Market Cap: $1.46B

For a thorough assessment of SRCE stock, go to TipRanks’ Stock Analysis page.