DA Davidson Has Optimistic Outlook of 1st Source Q2 Earnings

1st Source Corporation (NASDAQ:SRCE - Free Report) - Research analysts at DA Davidson raised their Q2 2025 earnings per share estimates for 1st Source in a note issued to investors on Friday, June 27th. DA Davidson analyst P. Winter now expects that the financial services provider will earn $1.49 per share for the quarter, up from their previous estimate 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.

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

1st Source Price Performance

SRCE traded up $2.21 during trading on Monday, reaching $64.28. 109,946 shares of the stock were exchanged, compared to its average volume of 90,793. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 10.66 and a beta of 0.68. 1st Source has a 1 year low of $51.80 and a 1 year high of $68.13. The business's 50 day moving average price is $60.66 and its two-hundred day moving average price is $60.36.

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

Institutional Investors Weigh In On 1st Source

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in shares of 1st Source by 2.2% in the first quarter. SG Americas Securities LLC now owns 8,888 shares of the financial services provider's stock worth $532,000 after acquiring an additional 188 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of 1st Source by 2.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 10,378 shares of the financial services provider's stock valued at $621,000 after purchasing an additional 254 shares during the last quarter. Aquatic Capital Management LLC increased its holdings in shares of 1st Source by 14.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,515 shares of the financial services provider's stock worth $147,000 after buying an additional 315 shares during the last quarter. Values First Advisors Inc. raised its position in shares of 1st Source by 0.9% in the 1st quarter. Values First Advisors Inc. now owns 36,138 shares of the financial services provider's stock worth $2,163,000 after buying an additional 323 shares during the period. Finally, Isthmus Partners LLC boosted its holdings in 1st Source by 0.6% in the fourth quarter. Isthmus Partners LLC now owns 54,649 shares of the financial services provider's stock valued at $3,190,000 after acquiring an additional 328 shares during the last quarter. Hedge funds and other 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 paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.36%. 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 dividend payout ratio is currently 26.71%.

About 1st Source

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.