1st Source (SRCE) Stock Rating Upgraded by ValuEngine

1st Source (NASDAQ:SRCE) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Monday.

SRCE has been the topic of a number of other research reports. BidaskClub lowered shares of 1st Source from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Zacks Investment Research raised shares of 1st Source from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. 1st Source presently has a consensus rating of “Hold” and an average target price of $58.00.

1st Source stock opened at $47.55 on Monday. 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 company has a market cap of $1.19 billion, a P/E ratio of 19.02, a PEG ratio of 1.43 and a beta of 0.97. 1st Source has a 1-year low of $39.93 and a 1-year high of $59.33.



1st Source (NASDAQ:SRCE) last posted its earnings results on Thursday, October 18th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.13). The firm had revenue of $78.42 million for the quarter, compared to the consensus estimate of $78.50 million. 1st Source had a return on equity of 10.41% and a net margin of 22.98%. Research analysts expect that 1st Source will post 3.2 EPS for the current year.

In other news, EVP Jeffrey L. Buhr sold 1,450 shares of the stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $56.98, for a total value of $82,621.00. Following the transaction, the executive vice president now owns 50,911 shares of the company’s stock, valued at approximately $2,900,908.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.92% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of 1st Source in the 2nd quarter worth $107,000. Barclays PLC increased its holdings in shares of 1st Source by 29.0% in the 1st quarter. Barclays PLC now owns 4,454 shares of the financial services provider’s stock worth $226,000 after buying an additional 1,001 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of 1st Source by 58.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 7,051 shares of the financial services provider’s stock worth $357,000 after buying an additional 2,600 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of 1st Source in the 3rd quarter worth $408,000. Finally, Legal & General Group Plc increased its holdings in shares of 1st Source by 47.1% in the 1st quarter. Legal & General Group Plc now owns 9,196 shares of the financial services provider’s stock worth $466,000 after buying an additional 2,945 shares during the last quarter. 70.80% of the stock is currently owned by hedge funds and other institutional investors.

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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