BidaskClub Upgrades 1st Source (NASDAQ:SRCE) to Hold

BidaskClub upgraded shares of 1st Source (NASDAQ:SRCE) from a sell rating to a hold rating in a research report sent to investors on Tuesday, May 7th, BidAskClub reports.

Several other research firms 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 Tuesday, January 15th. Zacks Investment Research upgraded shares of 1st Source from a sell rating to a hold rating in a research note on Tuesday, February 5th.

1st Source stock traded down $0.45 during trading on Tuesday, reaching $44.65. The company had a trading volume of 34,876 shares, compared to its average volume of 43,381. 1st Source has a 12-month low of $38.44 and a 12-month high of $59.33. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.93.

1st Source (NASDAQ:SRCE) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01. 1st Source had a net margin of 23.46% and a return on equity of 11.27%. The firm had revenue of $79.07 million during the quarter, compared to the consensus estimate of $79.45 million. Sell-side analysts predict that 1st Source will post 3.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.08 annualized dividend and a yield of 2.42%. 1st Source’s dividend payout ratio is currently 34.18%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantamental Technologies LLC purchased a new stake in 1st Source during the first quarter worth approximately $35,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of 1st Source in the first quarter valued at $36,000. Ameritas Investment Corp purchased a new position in shares of 1st Source in the first quarter valued at $77,000. Acadian Asset Management LLC purchased a new position in shares of 1st Source in the first quarter valued at $99,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of 1st Source in the fourth quarter valued at $105,000. Institutional investors own 70.53% 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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