Equities analysts predict that 1st Source Co. (NASDAQ:SRCE) will post earnings of $0.89 per share for the current quarter, Zacks reports. Two analysts have issued estimates for 1st Source’s earnings, with the lowest EPS estimate coming in at $0.87 and the highest estimate coming in at $0.90. 1st Source reported earnings of $0.76 per share during the same quarter last year, which indicates a positive year over year growth rate of 17.1%. The firm is scheduled to issue its next earnings report on Thursday, October 17th.
According to Zacks, analysts expect that 1st Source will report full year earnings of $3.54 per share for the current year, with EPS estimates ranging from $3.51 to $3.57. For the next year, analysts anticipate that the company will post earnings of $3.70 per share, with EPS estimates ranging from $3.61 to $3.79. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for 1st Source.
1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $82.09 million during the quarter, compared to analysts’ expectations of $80.85 million. 1st Source had a return on equity of 11.22% and a net margin of 23.31%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in 1st Source by 1.4% during the second quarter. Vanguard Group Inc. now owns 805,819 shares of the financial services provider’s stock valued at $37,390,000 after purchasing an additional 11,373 shares during the last quarter. Renaissance Technologies LLC boosted its position in 1st Source by 11.7% during the second quarter. Renaissance Technologies LLC now owns 319,214 shares of the financial services provider’s stock valued at $14,812,000 after purchasing an additional 33,500 shares during the last quarter. Norges Bank acquired a new position in 1st Source during the fourth quarter valued at approximately $12,670,000. JPMorgan Chase & Co. boosted its position in 1st Source by 3.0% during the second quarter. JPMorgan Chase & Co. now owns 266,952 shares of the financial services provider’s stock valued at $12,115,000 after purchasing an additional 7,709 shares during the last quarter. Finally, BTIM Corp. boosted its position in 1st Source by 2.5% during the first quarter. BTIM Corp. now owns 246,064 shares of the financial services provider’s stock valued at $11,051,000 after purchasing an additional 6,055 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.
Shares of SRCE stock traded up $1.19 on Friday, hitting $45.33. 1,223 shares of the stock were exchanged, compared to its average volume of 38,615. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.15 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. The business has a 50-day moving average of $45.46 and a 200 day moving average of $45.86. 1st Source has a fifty-two week low of $38.44 and a fifty-two week high of $57.96.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.08 annualized dividend and a yield of 2.38%. 1st Source’s dividend payout ratio (DPR) is presently 34.18%.
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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