Zacks Investment Research cut shares of 1st Source Corp. (NASDAQ:SRCE) from a hold rating to a sell rating in a research report sent to investors 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 39.30 on Thursday. 1st Source Corp. has a 12 month low of $27.01 and a 12 month high of $41.64. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 18.11 and a beta of 0.90. The firm has a 50-day moving average of $36.31 and a 200-day moving average of $34.51.

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

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The firm also recently declared a quarterly dividend, which was paid on Friday, November 11th. Stockholders of record on Tuesday, November 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Friday, October 28th. 1st Source Corp.’s dividend payout ratio (DPR) is currently 32.88%.

In other news, VP John B. Griffith sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $39.08, for a total value of $97,700.00. Following the sale, the vice president now owns 39,363 shares of the company’s stock, valued at $1,538,306.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 20.52% of the stock is currently owned by insiders.

About 1st Source Corp.

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.

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