BidaskClub downgraded shares of 1st Source (NASDAQ:SRCE) from a sell rating to a strong sell rating in a research report report published on Friday.

Separately, Zacks Investment Research upgraded shares of 1st Source from a sell rating to a hold rating in a report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. 1st Source currently has a consensus rating of Hold and an average target price of $56.75.

SRCE opened at $53.60 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. 1st Source has a 1-year low of $47.16 and a 1-year high of $59.33. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.84 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.84. 1st Source had a net margin of 22.84% and a return on equity of 10.18%. The firm had revenue of $78.19 million for the quarter, compared to the consensus estimate of $76.80 million. equities research analysts anticipate that 1st Source will post 3.34 earnings per share for the current year.

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

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of 1st Source in the second quarter valued at about $107,000. Barclays PLC raised its holdings in shares of 1st Source by 29.0% in the first quarter. Barclays PLC now owns 4,454 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 1,001 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of 1st Source by 58.4% in the first quarter. Xact Kapitalforvaltning AB now owns 7,051 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 2,600 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of 1st Source by 51.9% in the first quarter. Victory Capital Management Inc. now owns 8,023 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 2,742 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of 1st Source by 47.1% in the first quarter. Legal & General Group Plc now owns 9,196 shares of the financial services provider’s stock valued at $466,000 after purchasing an additional 2,945 shares during the last quarter. Institutional investors own 70.82% of the company’s stock.

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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