BidaskClub lowered shares of 1st Source (NASDAQ:SRCE) from a sell rating to a strong sell rating in a report published on Saturday, BidAskClub reports.

Several other brokerages also recently issued reports on SRCE. ValuEngine downgraded shares of 1st Source from a hold rating to a sell rating in a research note on Monday, August 3rd. Zacks Investment Research raised shares of 1st Source from a sell rating to a hold rating in a research note on Wednesday, July 1st. Finally, Piper Sandler raised their price objective on shares of 1st Source from $42.00 to $43.00 and gave the stock an overweight rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $51.00.

Shares of NASDAQ:SRCE opened at $32.79 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. The company has a market cap of $837.78 million, a price-to-earnings ratio of 10.34 and a beta of 1.10. 1st Source has a 12 month low of $26.07 and a 12 month high of $53.42. The company has a 50-day moving average price of $34.46 and a 200 day moving average price of $34.00.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.15. The business had revenue of $79.24 million during the quarter, compared to the consensus estimate of $77.65 million. 1st Source had a net margin of 21.68% and a return on equity of 9.40%. As a group, equities analysts forecast that 1st Source will post 2.91 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in shares of 1st Source by 1.0% during the first quarter. Federated Hermes Inc. now owns 41,185 shares of the financial services provider’s stock valued at $1,335,000 after acquiring an additional 401 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of 1st Source during the first quarter valued at approximately $28,000. Two Sigma Advisers LP raised its stake in shares of 1st Source by 5.1% during the second quarter. Two Sigma Advisers LP now owns 18,450 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 900 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of 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 acquiring an additional 902 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of 1st Source by 22.6% during the second quarter. SG Americas Securities LLC now owns 6,065 shares of the financial services provider’s stock valued at $216,000 after acquiring an additional 1,119 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

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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