1st Source (NASDAQ:SRCE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “1ST SOURCE CORP.is a bank holding company engaged in general banking business. The bank offers a broad range of commercial banking, personal banking and trust services. In addition, 1st Source Bank provides highly specialized financing services for: automobile fleets in the rental and leasing industries; privately-held used aircraft; heavy duty trucks and construction equipment.These services are marketed nationwide. “

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A number of other research firms have also recently commented on SRCE. Piper Jaffray Companies restated a “buy” rating and set a $59.00 target price on shares of 1st Source in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $53.00 target price on shares of 1st Source in a research report on Friday, December 22nd. BidaskClub cut 1st Source from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, ValuEngine upgraded 1st Source from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $56.25.

1st Source stock opened at $52.92 on Thursday. The firm has a market capitalization of $1,418.16, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. 1st Source has a 52 week low of $43.58 and a 52 week high of $54.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.93.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.07). The company had revenue of $74.49 million for the quarter, compared to analysts’ expectations of $71.40 million. 1st Source had a net margin of 21.88% and a return on equity of 9.30%. equities research analysts expect that 1st Source will post 3.36 earnings per share for the current fiscal year.

In other news, Director Allison N. Egidi sold 8,500 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $52.21, for a total transaction of $443,785.00. Following the sale, the director now directly owns 1,650 shares in the company, valued at approximately $86,146.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.92% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of 1st Source by 1.6% during the 4th quarter. BlackRock Inc. now owns 1,123,347 shares of the financial services provider’s stock valued at $55,549,000 after acquiring an additional 17,662 shares during the period. Janus Henderson Group PLC grew its position in shares of 1st Source by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 401,064 shares of the financial services provider’s stock valued at $20,374,000 after acquiring an additional 21,502 shares during the period. State Street Corp grew its position in shares of 1st Source by 5.5% during the 2nd quarter. State Street Corp now owns 306,993 shares of the financial services provider’s stock valued at $14,714,000 after acquiring an additional 16,134 shares during the period. Millennium Management LLC boosted its holdings in 1st Source by 337.5% in the 4th quarter. Millennium Management LLC now owns 204,204 shares of the financial services provider’s stock worth $10,098,000 after buying an additional 157,532 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in 1st Source by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 168,573 shares of the financial services provider’s stock worth $8,335,000 after buying an additional 1,408 shares during the last quarter. Hedge funds and other institutional investors own 68.60% of the company’s stock.

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About 1st Source

1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.

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