Several other brokerages have also issued reports on SRCE. Zacks Investment Research lowered 1st Source from a buy rating to a hold rating in a research report on Tuesday, December 24th. DA Davidson restated a neutral rating on shares of 1st Source in a research report on Monday, November 18th.
SRCE opened at $51.01 on Friday. The firm has a market cap of $1.30 billion, a P/E ratio of 16.14 and a beta of 1.08. 1st Source has a 12 month low of $41.87 and a 12 month high of $53.42. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $51.66 and a 200 day moving average of $48.04.
In other 1st Source news, VP John B. Griffith sold 2,896 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $51.56, for a total transaction of $149,317.76. 20.01% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in SRCE. Nuveen Asset Management LLC purchased a new position in shares of 1st Source during the second quarter valued at approximately $4,366,000. Renaissance Technologies LLC raised its stake in shares of 1st Source by 11.7% during the second quarter. Renaissance Technologies LLC now owns 319,214 shares of the financial services provider’s stock valued at $14,812,000 after acquiring an additional 33,500 shares in the last quarter. Indiana Trust & Investment Management CO raised its stake in shares of 1st Source by 62.8% during the third quarter. Indiana Trust & Investment Management CO now owns 82,291 shares of the financial services provider’s stock valued at $3,763,000 after acquiring an additional 31,732 shares in the last quarter. Dupont Capital Management Corp bought a new stake in shares of 1st Source during the third quarter valued at approximately $1,212,000. Finally, Russell Investments Group Ltd. raised its stake in shares of 1st Source by 69.2% during the third quarter. Russell Investments Group Ltd. now owns 57,660 shares of the financial services provider’s stock valued at $2,639,000 after acquiring an additional 23,573 shares in the last quarter. Institutional investors and hedge funds own 70.28% 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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