1st Source (NASDAQ:SRCE) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of 1st Source (NASDAQ:SRCE) from a strong sell rating to a sell rating in a report published on Wednesday, March 27th, BidAskClub reports.

Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of 1st Source from a sell rating to a hold rating in a report on Wednesday, December 5th. ValuEngine upgraded shares of 1st Source from a sell rating to a hold rating in a report on Friday, January 25th.

1st Source stock opened at $46.98 on Wednesday. 1st Source has a twelve month low of $38.44 and a twelve month high of $59.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $1.23 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.31 and a beta of 1.12.

1st Source (NASDAQ:SRCE) last posted its earnings results on Thursday, January 24th. The financial services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). 1st Source had a return on equity of 11.06% and a net margin of 23.26%. The business had revenue of $80.00 million during the quarter, compared to the consensus estimate of $78.90 million. On average, equities analysts forecast that 1st Source will post 3.53 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of SRCE. Victory Capital Management Inc. grew its holdings in 1st Source by 32.6% during the 3rd quarter. Victory Capital Management Inc. now owns 12,325 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 3,027 shares during the last quarter. Wells Fargo & Company MN grew its holdings in 1st Source by 5.9% during the 3rd quarter. Wells Fargo & Company MN now owns 23,213 shares of the financial services provider’s stock valued at $1,221,000 after purchasing an additional 1,301 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in 1st Source by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 243,772 shares of the financial services provider’s stock valued at $12,828,000 after purchasing an additional 1,177 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in 1st Source by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 114,465 shares of the financial services provider’s stock valued at $6,023,000 after purchasing an additional 1,652 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in 1st Source by 0.8% during the 3rd quarter. BlackRock Inc. now owns 1,159,343 shares of the financial services provider’s stock valued at $61,005,000 after purchasing an additional 9,408 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

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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