BidaskClub Lowers 1st Source (NASDAQ:SRCE) to Strong Sell
Several other analysts have also commented on SRCE. ValuEngine lowered shares of 1st Source from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Piper Sandler raised their target price on 1st Source from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Zacks Investment Research upgraded 1st Source from a “sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $51.00.
Shares of 1st Source stock opened at $32.61 on Friday. The business has a 50 day moving average of $34.60 and a 200 day moving average of $34.30. 1st Source has a 52 week low of $26.07 and a 52 week high of $53.42. The company has a market cap of $856.19 million, a PE ratio of 10.29 and a beta of 1.10. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.
Institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. purchased a new position in shares of 1st Source during the first quarter valued at approximately $28,000. Citigroup Inc. increased its position in 1st Source by 34.5% during the 1st quarter. Citigroup Inc. now owns 4,374 shares of the financial services provider’s stock valued at $142,000 after buying an additional 1,122 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in 1st Source by 26.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,364 shares of the financial services provider’s stock valued at $142,000 after buying an additional 902 shares during the last quarter. Bartlett & Co. LLC purchased a new position in 1st Source during the first quarter valued at $146,000. Finally, LSV Asset Management bought a new stake in 1st Source in the second quarter worth $150,000. Institutional investors and hedge funds own 71.78% of the company’s stock.
1st Source Company Profile
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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