Equities research analysts expect 1st Source Co. (NASDAQ:SRCE) to post earnings per share of $0.90 for the current quarter, according to Zacks. Two analysts have made estimates for 1st Source’s earnings, with the lowest EPS estimate coming in at $0.86 and the highest estimate coming in at $0.93. 1st Source reported earnings per share of $0.84 in the same quarter last year, which indicates a positive year over year growth rate of 7.1%. The company is expected to issue its next quarterly earnings results on Thursday, July 18th.
On average, analysts expect that 1st Source will report full year earnings of $3.55 per share for the current fiscal year, with EPS estimates ranging from $3.43 to $3.67. For the next financial year, analysts anticipate that the business will report earnings of $3.78 per share, with EPS estimates ranging from $3.69 to $3.86. Zacks’ EPS averages are an average based on a survey of research analysts that cover 1st Source.
1st Source (NASDAQ:SRCE) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. 1st Source had a return on equity of 11.27% and a net margin of 23.46%. The company had revenue of $79.07 million during the quarter, compared to analysts’ expectations of $79.45 million.
A number of equities analysts have recently commented on SRCE shares. BidaskClub cut 1st Source from a “sell” rating to a “strong sell” rating in a report on Thursday, February 7th. ValuEngine raised 1st Source from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Finally, Zacks Investment Research raised 1st Source from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th.
Shares of 1st Source stock traded down $0.28 during trading on Friday, reaching $46.27. 30,901 shares of the company’s stock were exchanged, compared to its average volume of 43,907. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.93. 1st Source has a 1-year low of $38.44 and a 1-year high of $59.33. The stock has a market capitalization of $1.19 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 1.29 and a beta of 1.12.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.33%. 1st Source’s dividend payout ratio (DPR) is currently 34.18%.
Several institutional investors have recently bought and sold shares of SRCE. Wells Fargo & Company MN raised its holdings in shares of 1st Source by 5.9% during the 3rd quarter. Wells Fargo & Company MN now owns 23,213 shares of the financial services provider’s stock worth $1,221,000 after buying an additional 1,301 shares in the last quarter. Bank of New York Mellon Corp grew its position in 1st Source by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 114,465 shares of the financial services provider’s stock worth $6,023,000 after acquiring an additional 1,652 shares during the last quarter. BlackRock Inc. grew its position in 1st Source by 0.8% during the 3rd quarter. BlackRock Inc. now owns 1,159,343 shares of the financial services provider’s stock worth $61,005,000 after acquiring an additional 9,408 shares during the last quarter. JPMorgan Chase & Co. grew its position in 1st Source by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 243,772 shares of the financial services provider’s stock worth $12,828,000 after acquiring an additional 1,177 shares during the last quarter. Finally, MetLife Investment Advisors LLC grew its position in 1st Source by 56.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 11,931 shares of the financial services provider’s stock worth $628,000 after acquiring an additional 4,286 shares during the last quarter. 71.23% of the stock is owned by institutional investors.
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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