BidaskClub Lowers 1st Source (NASDAQ:SRCE) to Strong Sell
SRCE has been the topic of a number of other reports. DA Davidson reissued a neutral rating on shares of 1st Source in a report on Monday, November 18th. Zacks Investment Research lowered shares of 1st Source from a buy rating to a hold rating in a report on Tuesday, December 24th.
Shares of SRCE opened at $51.01 on Friday. The firm has a market capitalization of $1.30 billion, a PE ratio of 16.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.93. 1st Source has a 1-year low of $41.87 and a 1-year high of $53.42. The company’s fifty day moving average price is $51.66 and its 200-day moving average price is $48.04.
In other 1st Source news, VP John B. Griffith sold 2,896 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $51.56, for a total value of $149,317.76. 20.01% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in 1st Source by 1.4% in the second quarter. Vanguard Group Inc. now owns 805,819 shares of the financial services provider’s stock valued at $37,390,000 after purchasing an additional 11,373 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in 1st Source by 11.7% in the second quarter. Renaissance Technologies LLC now owns 319,214 shares of the financial services provider’s stock valued at $14,812,000 after purchasing an additional 33,500 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in 1st Source by 1.5% in the fourth quarter. Boston Trust Walden Corp now owns 247,654 shares of the financial services provider’s stock valued at $12,848,000 after purchasing an additional 3,640 shares during the last quarter. United Services Automobile Association boosted its holdings in 1st Source by 3.2% in the second quarter. United Services Automobile Association now owns 202,102 shares of the financial services provider’s stock valued at $9,378,000 after purchasing an additional 6,320 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of 1st Source in the second quarter worth about $4,366,000. 70.28% of the stock is currently owned by institutional investors.
About 1st Source
1st Source Corporation operates as the 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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