[the_ad id="21475"]
[ad_1]
DA Davidson analyst Manuel Navas lowered the firm’s price target on 1st Source to $51 from $53 and keeps a Neutral rating on the shares. The stock was under pressure last week on its earnings miss and the company’s warning of net interest margin pressure going forward due to rising funding costs to fund substantial core loan growth. Navas is raising his FY23 EPS view by 30c to $4.45 on expectations of a delay in higher credit costs, though he also cautions that reserves will be higher at 1st Source amid a recessionary environment.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on SRCE:
Click Here to Read the Full Original Article at TipRanks Financial Blog…
[ad_2]
[the_ad id="21476"]