1st Source (SRCE) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: 1st Source (SRCE) - 1st Source currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, SRCE shares increased by 9.85%, outperforming the Zacks Banks - Midwest industry, which rose by 4.87% [5] - In a longer timeframe, SRCE's monthly price change is 18%, compared to the industry's 10.41% [5] - Over the last quarter, SRCE shares rose by 19.62%, and over the past year, they increased by 29.57%, while the S&P 500 only moved 8.91% and 20.56%, respectively [6] Trading Volume - SRCE's average 20-day trading volume is 126,609 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, two earnings estimates for SRCE have been revised upwards, increasing the consensus estimate from $4.84 to $5.36 [9] - For the next fiscal year, two estimates have also moved higher, with no downward revisions [9] Conclusion - Given the positive performance metrics and earnings outlook, SRCE is positioned as a strong momentum pick with a Momentum Score of B and a Zacks Rank of 1 (Strong Buy) [9]