DA Davidson Analysts Boost Earnings Estimates for 1st Source

1st Source Corporation (NASDAQ:SRCE - Free Report) - Equities research analysts at DA Davidson increased their Q2 2025 earnings per share (EPS) estimates for 1st Source in a research report issued to clients and investors on Friday, June 27th. DA Davidson analyst P. Winter now forecasts that the financial services provider will earn $1.49 per share for the quarter, up from their prior forecast of $1.47. The consensus estimate for 1st Source's current full-year earnings is $5.82 per share. DA Davidson also issued estimates for 1st Source's FY2025 earnings at $6.03 EPS and FY2026 earnings at $6.07 EPS.

1st Source (NASDAQ:SRCE - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.16. The company had revenue of $104.04 million for the quarter, compared to analyst estimates of $100.97 million. 1st Source had a net margin of 24.17% and a return on equity of 12.26%.

Several other analysts have also weighed in on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of 1st Source in a research note on Friday, June 27th. Piper Sandler raised their target price on 1st Source from $72.50 to $75.00 and gave the company an "overweight" rating in a research note on Monday, April 28th.

1st Source Trading Up 1.0%

SRCE traded up $0.65 during mid-day trading on Monday, hitting $65.74. 39,766 shares of the stock were exchanged, compared to its average volume of 90,713. The company has a market cap of $1.61 billion, a PE ratio of 11.55 and a beta of 0.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.08. 1st Source has a 1-year low of $51.80 and a 1-year high of $68.13. The firm's fifty day moving average is $60.98 and its two-hundred day moving average is $60.42.

Institutional Investors Weigh In On 1st Source

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in 1st Source by 15.2% during the 1st quarter. Vanguard Group Inc. now owns 1,068,094 shares of the financial services provider's stock valued at $63,883,000 after purchasing an additional 140,698 shares during the period. Nuveen LLC acquired a new position in shares of 1st Source during the 1st quarter valued at about $7,012,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of 1st Source by 157.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 151,497 shares of the financial services provider's stock valued at $9,061,000 after purchasing an additional 92,650 shares during the period. Nuveen Asset Management LLC boosted its holdings in 1st Source by 154.4% during the fourth quarter. Nuveen Asset Management LLC now owns 139,017 shares of the financial services provider's stock valued at $8,116,000 after acquiring an additional 84,378 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of 1st Source by 57.8% during the first quarter. American Century Companies Inc. now owns 188,763 shares of the financial services provider's stock worth $11,290,000 after buying an additional 69,124 shares during the last quarter. Institutional investors own 74.45% of the company's stock.

1st Source Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from 1st Source's previous quarterly dividend of $0.36. 1st Source's payout ratio is 26.71%.

1st Source Company Profile

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products 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 mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.