1st Source (SRCE) Downgraded to Strong Sell at BidaskClub

BidaskClub lowered shares of 1st Source (NASDAQ:SRCE) from a sell rating to a strong sell rating in a research report report published on Sunday morning.

SRCE has been the topic of several other research reports. Zacks Investment Research upgraded 1st Source from a sell rating to a hold rating in a research note on Thursday, November 29th. ValuEngine lowered 1st Source from a hold rating to a sell rating in a research note on Friday, October 19th.

NASDAQ:SRCE opened at $42.84 on Friday. 1st Source has a twelve month low of $38.44 and a twelve month high of $59.33. The firm has a market cap of $1.12 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.20 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.17.



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

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in 1st Source in the second quarter valued at about $107,000. Engineers Gate Manager LP purchased a new position in 1st Source in the third quarter valued at about $237,000. Assenagon Asset Management S.A. purchased a new position in 1st Source in the third quarter valued at about $408,000. Dynamic Technology Lab Private Ltd purchased a new position in 1st Source in the third quarter valued at about $495,000. Finally, MetLife Investment Advisors LLC grew its stake in 1st Source by 56.1% in the third quarter. MetLife Investment Advisors LLC now owns 11,931 shares of the financial services provider’s stock valued at $628,000 after purchasing an additional 4,286 shares during the last quarter. Hedge funds and other institutional investors own 71.11% of the company’s stock.

1st Source Company Profile

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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