Equities research analysts predict that 1st Source Co. (NASDAQ:SRCE) will announce $0.74 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for 1st Source’s earnings. The lowest EPS estimate is $0.65 and the highest is $0.82. 1st Source reported earnings per share of $0.95 during the same quarter last year, which indicates a negative year over year growth rate of 22.1%. The firm is scheduled to report its next quarterly earnings results on Thursday, October 15th.
On average, analysts expect that 1st Source will report full-year earnings of $2.92 per share for the current financial year, with EPS estimates ranging from $2.87 to $2.96. For the next financial year, analysts forecast that the business will post earnings of $2.32 per share, with EPS estimates ranging from $2.15 to $2.49. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for 1st Source.
1st Source (NASDAQ:SRCE) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.15. 1st Source had a net margin of 21.68% and a return on equity of 9.40%. The company had revenue of $79.24 million for the quarter, compared to analyst estimates of $77.65 million.
A number of equities research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of 1st Source from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Zacks Investment Research upgraded shares of 1st Source from a “sell” rating to a “hold” rating in a report on Wednesday, July 1st. BidaskClub upgraded shares of 1st Source from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, ValuEngine lowered shares of 1st Source from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.00.
A number of large investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its stake in 1st Source by 1.0% in the 1st quarter. Federated Hermes Inc. now owns 41,185 shares of the financial services provider’s stock valued at $1,335,000 after buying an additional 401 shares during the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of 1st Source during the 1st quarter worth approximately $28,000. BNP Paribas Arbitrage SA increased its stake in shares of 1st Source by 26.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,364 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 902 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of 1st Source by 22.6% during the 2nd quarter. SG Americas Securities LLC now owns 6,065 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 1,119 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of 1st Source by 34.5% during the 1st quarter. Citigroup Inc. now owns 4,374 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 1,122 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.
Shares of SRCE traded up $0.32 on Tuesday, reaching $34.72. The company’s stock had a trading volume of 52,942 shares, compared to its average volume of 45,097. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. 1st Source has a twelve month low of $26.07 and a twelve month high of $53.42. The stock has a market capitalization of $887.10 million, a PE ratio of 10.95 and a beta of 1.10. The firm has a fifty day moving average of $34.58 and a 200-day moving average of $34.77.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Tuesday, August 4th were paid a $0.28 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.12 annualized dividend and a yield of 3.23%. 1st Source’s dividend payout ratio (DPR) is 31.37%.
About 1st Source
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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