1st Source (NASDAQ:SRCE) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday.

SRCE has been the topic of several other reports. ValuEngine lowered shares of 1st Source from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Zacks Investment Research upgraded shares of 1st Source from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.00.

SRCE opened at $42.96 on Tuesday. The stock has a market cap of $1.20 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.96. 1st Source has a twelve month low of $39.93 and a twelve month high of $59.33. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17.

1st Source (NASDAQ:SRCE) last posted its earnings results on Thursday, October 18th. The financial services provider reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.13). The firm had revenue of $78.42 million during the quarter, compared to analyst estimates of $78.50 million. 1st Source had a net margin of 22.98% and a return on equity of 10.41%. Equities analysts predict that 1st Source will post 3.34 EPS for the current year.

In other news, EVP Jeffrey L. Buhr sold 1,450 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $56.98, for a total value of $82,621.00. Following the sale, the executive vice president now directly owns 50,911 shares of the company’s stock, valued at approximately $2,900,908.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey L. Buhr sold 550 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $56.92, for a total transaction of $31,306.00. Following the completion of the sale, the insider now directly owns 52,361 shares in the company, valued at $2,980,388.12. The disclosure for this sale can be found here. Insiders own 19.92% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of 1st Source by 3.0% in the 2nd quarter. BlackRock Inc. now owns 1,149,935 shares of the financial services provider’s stock valued at $61,440,000 after acquiring an additional 33,113 shares during the period. Janus Henderson Group PLC raised its stake in shares of 1st Source by 10.1% in the 2nd quarter. Janus Henderson Group PLC now owns 608,424 shares of the financial services provider’s stock valued at $32,508,000 after acquiring an additional 55,646 shares during the period. BTIM Corp. raised its stake in shares of 1st Source by 2.9% in the 2nd quarter. BTIM Corp. now owns 268,189 shares of the financial services provider’s stock valued at $14,329,000 after acquiring an additional 7,577 shares during the period. Northern Trust Corp raised its stake in shares of 1st Source by 1.0% in the 2nd quarter. Northern Trust Corp now owns 262,567 shares of the financial services provider’s stock valued at $14,028,000 after acquiring an additional 2,557 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of 1st Source by 19.6% in the 2nd quarter. Renaissance Technologies LLC now owns 232,814 shares of the financial services provider’s stock valued at $12,439,000 after acquiring an additional 38,100 shares during the period. 70.85% of the stock is currently owned by institutional investors and hedge funds.

About 1st Source

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and investment management services, and insurance to individual and business clients. Its consumer banking services include checking and savings accounts; certificates of deposit; individual retirement accounts; online and mobile banking products; consumer loans, real estate loans, and lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.

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