1st Source (NASDAQ:SRCE) Stock Rating Lowered by StockNews.com

1st Source (NASDAQ:SRCEGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Separately, Zacks Investment Research raised shares of 1st Source from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Friday, April 1st.

Shares of SRCE traded up $0.96 during midday trading on Monday, hitting $44.78. The stock had a trading volume of 66,693 shares, compared to its average volume of 50,482. 1st Source has a 1 year low of $41.19 and a 1 year high of $52.69. The firm has a market cap of $1.11 billion, a PE ratio of 9.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.85. The stock’s 50 day moving average is $45.56 and its 200 day moving average is $47.98.

1st Source (NASDAQ:SRCEGet Rating) last announced its earnings results on Thursday, April 21st. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.12. 1st Source had a net margin of 33.48% and a return on equity of 12.43%. As a group, equities research analysts expect that 1st Source will post 4.31 earnings per share for the current fiscal year.

In other 1st Source news, Director Daniel B. Fitzpatrick bought 1,000 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were bought at an average cost of $43.13 per share, for a total transaction of $43,130.00. Following the acquisition, the director now directly owns 45,092 shares in the company, valued at $1,944,817.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 19.05% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Captrust Financial Advisors grew its holdings in 1st Source by 68.0% during the 3rd quarter. Captrust Financial Advisors now owns 566 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 229 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of 1st Source by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 24,070 shares of the financial services provider’s stock valued at $1,194,000 after buying an additional 290 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of 1st Source by 53.7% in the 1st quarter. Lazard Asset Management LLC now owns 841 shares of the financial services provider’s stock valued at $38,000 after buying an additional 294 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of 1st Source by 3.1% in the 4th quarter. GSA Capital Partners LLP now owns 10,095 shares of the financial services provider’s stock valued at $501,000 after buying an additional 308 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 1st Source by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 117,675 shares of the financial services provider’s stock valued at $5,443,000 after buying an additional 321 shares in the last quarter. Institutional investors own 72.96% of the company’s stock.

About 1st Source (Get Rating)

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products 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 mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.

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