Wall Street brokerages predict that 1st Source Co. (NASDAQ:SRCE) will announce $0.89 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for 1st Source’s earnings, with estimates ranging from $0.86 to $0.91. 1st Source posted earnings of $0.84 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6%. The business is expected to announce its next quarterly earnings results on Thursday, July 18th.
According to Zacks, analysts expect that 1st Source will report full year earnings of $3.53 per share for the current year, with EPS estimates ranging from $3.43 to $3.63. For the next year, analysts expect that the firm 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 sell-side analysts that that provide coverage for 1st Source.
1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. 1st Source had a net margin of 23.46% and a return on equity of 11.38%. The company had revenue of $79.07 million during the quarter, compared to the consensus estimate of $79.45 million.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of 1st Source from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. BidaskClub raised shares of 1st Source from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 27th. Finally, ValuEngine downgraded shares of 1st Source from a “hold” rating to a “sell” rating in a report on Friday, March 22nd.
NASDAQ SRCE opened at $45.87 on Wednesday. 1st Source has a 52-week low of $38.44 and a 52-week high of $59.33. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.22 billion, a PE ratio of 14.52, a P/E/G ratio of 1.30 and a beta of 1.12.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, May 3rd. 1st Source’s dividend payout ratio is presently 34.18%.
Institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. bought a new stake in 1st Source in the fourth quarter worth $105,000. Metropolitan Life Insurance Co. NY lifted its stake in 1st Source by 390.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,383 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 4,286 shares during the last quarter. Legal & General Group Plc lifted its stake in 1st Source by 8.1% in the fourth quarter. Legal & General Group Plc now owns 5,651 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 423 shares during the last quarter. Citigroup Inc. raised its stake in shares of 1st Source by 40.0% during the fourth quarter. Citigroup Inc. now owns 6,146 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 1,757 shares during the last quarter. Finally, Ocean Capital Management LLC bought a new position in shares of 1st Source during the fourth quarter valued at about $272,000. 70.00% of the stock is owned by institutional investors and hedge funds.
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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