Zacks Investment Research downgraded shares of 1st Source Corp. (NASDAQ:SRCE) from a hold rating to a sell rating in a report published on Thursday morning.

According to Zacks, “1ST SOURCE a bank holding company engaged in general banking business. The bank offers a broad range of commercial banking, personal banking and trust services. In addition, 1st Source Bank provides highly specialized financing services for: automobile fleets in the rental and leasing industries; privately-held used aircraft; heavy duty trucks and construction equipment.These services are marketed nationwide. “

Shares of 1st Source Corp. (NASDAQ:SRCE) opened at 39.59 on Thursday. The stock has a 50 day moving average price of $36.07 and a 200-day moving average price of $34.43. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 18.24 and a beta of 0.90. 1st Source Corp. has a 52 week low of $27.01 and a 52 week high of $41.64.

1st Source Corp. (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.03. 1st Source Corp. had a return on equity of 8.68% and a net margin of 20.46%. On average, analysts anticipate that 1st Source Corp. will post $2.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 11th. Shareholders of record on Tuesday, November 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, October 28th. This represents a $0.72 dividend on an annualized basis and a yield of 1.82%. 1st Source Corp.’s payout ratio is 32.88%.

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1st Source Corp. Company Profile

1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. 1st Source Bank (the Bank), its banking subsidiary, offers commercial and consumer banking services, trust and investment management services, and insurance to individual and business clients through its approximately 80 banking center locations in over 20 counties in Indiana and Michigan.

5 Day Chart for NASDAQ:SRCE

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