DA Davidson Initiates Coverage on 1st Source Corporation to Neutral

DA Davidson Initiates Coverage on 1st Source Corporation(NASDAQ:SRCE). The shares have been rated Neutral. The rating by DA Davidson was issued on Jul 21, 2016.

1st Source Corporation (SRCE) made into the market gainers list on Wednesdays trading session with the shares advancing 0.45% or 0.15 points. Due to strong positive momentum, the stock ended at $33.39, which is also near the day’s high of $33.6. The stock began the session at $33.22 and the volume stood at 39,181 shares. The 52-week high of the shares is $34.83 and the 52 week low is $27.01. The company has a current market capitalization of $863 M and it has 2,58,49,257 shares in outstanding.

1st Source Corporation(SRCE) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $63.38M. Analysts had an estimated revenue of $62.00M. Earnings per share were $0.53. Analysts had estimated an EPS of $0.51.

Several Insider Transactions has been reported to the SEC. On May 2, 2016, Vinod M Khilnani (director) purchased 1,000 shares at $34.54 per share price.Also, On Mar 15, 2016, John B Griffith (Exec VP / Secy 1st Source Bank) sold 3,656 shares at $32.12 per share price.On Sep 15, 2015, Andrea G Short (Treasurer and CFO) sold 2,500 shares at $29.94 per share price, according to the Form-4 filing with the securities and exchange commission.

1st Source Corporation is a bank holding company. The Company through its subsidiaries provides a range of financial products and services. 1st Source Bank its banking subsidiary offers commercial and consumer banking services trust and investment management services and insurance to individual and business clients through around 80 banking center locations in 17 counties in Indiana and Michigan. Its Specialty Finance Group offers financing services for new and used private and cargo aircraft automobiles and light trucks for leasing and rental agencies medium and heavy duty trucks and construction equipment. It provides commercial small business agricultural and real estate loans to privately owned business clients located within its regional market area. It offers loans for a range of general corporate purposes including financing for industrial and commercial properties financing for equipment inventories and accounts receivable and acquisition financing.

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