1st Source (SRCE) Stock Rating Lowered by ValuEngine

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1st Source (NASDAQ:SRCE) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other research firms also recently weighed in on SRCE. BidaskClub downgraded shares of 1st Source from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 18th. Zacks Investment Research upgraded shares of 1st Source from a “sell” rating to a “hold” rating in a report on Thursday, December 20th.

1st Source stock opened at $42.63 on Friday. 1st Source has a fifty-two week low of $38.44 and a fifty-two week high of $59.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market capitalization of $1.13 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.21 and a beta of 1.13.

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 the Thomson Reuters’ consensus estimate of $0.86 by ($0.04). 1st Source had a net margin of 23.26% and a return on equity of 11.06%. The company had revenue of $80.00 million during the quarter, compared to analyst estimates of $78.90 million. On average, sell-side analysts expect that 1st Source will post 3.53 EPS for the current year.

Several large investors have recently bought and sold shares of SRCE. Amundi Pioneer Asset Management Inc. acquired a new position in shares of 1st Source in the fourth quarter worth $105,000. Metropolitan Life Insurance Co. NY grew its stake in shares of 1st Source by 390.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,383 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 4,286 shares in the last quarter. Legal & General Group Plc grew its stake in shares of 1st Source by 8.1% in the fourth quarter. Legal & General Group Plc now owns 5,651 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 423 shares in the last quarter. Citigroup Inc. grew its stake in shares of 1st Source by 40.0% in the fourth quarter. Citigroup Inc. now owns 6,146 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 1,757 shares in the last quarter. Finally, Ocean Capital Management LLC acquired a new position in shares of 1st Source in the fourth quarter worth $272,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

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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