1st Source Co. (NASDAQ:SRCE - Free Report) - DA Davidson issued their Q2 2024 earnings estimates for shares of 1st Source in a research note issued on Tuesday, April 30th. DA Davidson analyst P. Winter expects that the financial services provider will post earnings of $1.25 per share for the quarter. The consensus estimate for 1st Source's current full-year earnings is $4.83 per share. DA Davidson also issued estimates for 1st Source's FY2024 earnings at $4.87 EPS and FY2025 earnings at $4.75 EPS.
1st Source (NASDAQ:SRCE - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.02. 1st Source had a net margin of 23.33% and a return on equity of 11.99%. The firm had revenue of $138.62 million for the quarter, compared to analysts' expectations of $93.30 million. During the same quarter last year, the company earned $1.25 EPS.
Several other research analysts have also recently weighed in on SRCE. Piper Sandler boosted their price target on shares of 1st Source from $59.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price objective on shares of 1st Source from $52.00 to $53.00 and gave the company a "market perform" rating in a report on Monday, January 22nd.
Read Our Latest Report on 1st Source
1st Source Trading Up 2.0 %
Shares of SRCE stock traded up $1.00 on Wednesday, hitting $50.60. 35,843 shares of the stock traded hands, compared to its average volume of 64,639. The firm's 50-day moving average price is $50.15 and its two-hundred day moving average price is $50.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $1.24 billion, a PE ratio of 10.17 and a beta of 0.79. 1st Source has a twelve month low of $38.77 and a twelve month high of $56.59.
Institutional Investors Weigh In On 1st Source
Several large investors have recently modified their holdings of SRCE. Frazier Financial Advisors LLC acquired a new stake in shares of 1st Source in the fourth quarter valued at approximately $27,000. New York State Teachers Retirement System purchased a new stake in shares of 1st Source during the first quarter worth approximately $78,000. PNC Financial Services Group Inc. raised its stake in shares of 1st Source by 10.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,356 shares of the financial services provider's stock worth $129,000 after purchasing an additional 218 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of 1st Source during the fourth quarter worth approximately $188,000. Finally, Pathstone Family Office LLC purchased a new stake in shares of 1st Source during the third quarter worth approximately $206,000. 74.45% of the stock is owned by institutional investors and hedge funds.
Insider Activity at 1st Source
In related news, EVP Jeffrey L. Buhr sold 761 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $51.52, for a total value of $39,206.72. Following the sale, the executive vice president now directly owns 70,252 shares in the company, valued at approximately $3,619,383.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.44% of the stock is owned by insiders.
1st Source Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be issued a $0.34 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.36 annualized dividend and a yield of 2.69%. 1st Source's dividend payout ratio (DPR) is currently 27.36%.
About 1st Source
(
Get Free Report)
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.
Further Reading
Before you consider 1st Source, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and 1st Source wasn't on the list.
While 1st Source currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
