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Fly News Breaks for October 23, 2017
SRCE
Oct 23, 2017 | 06:39 EDT
DA Davidson analyst Kevin Reevey raised his price target on 1st Source to $53 following Q3 results that showed 2.9% growth in spread income and a 6% growth in fee income. Reevey notes that strong loan originations were only slightly offset by paydowns, and net interest margins remained stable relative to prior quarter. The analyst maintains a Neutral rating to reflect the recent run-up in bank valuations.
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