1st Source (NASDAQ:SRCE - Get Free Report) is scheduled to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect 1st Source to post earnings of $1.17 per share for the quarter.
1st Source (NASDAQ:SRCE - Get Free Report) last issued its earnings results on Tuesday, February 20th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter. The firm had revenue of $91.41 million during the quarter, compared to analyst estimates of $91.20 million. 1st Source had a net margin of 24.61% and a return on equity of 12.49%. On average, analysts expect 1st Source to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.
1st Source Trading Down 0.4 %
Shares of SRCE traded down $0.18 during trading hours on Wednesday, reaching $47.76. 49,073 shares of the company traded hands, compared to its average volume of 65,109. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 9.50 and a beta of 0.79. 1st Source has a 12-month low of $38.77 and a 12-month high of $56.59. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The stock's fifty day moving average price is $50.26 and its 200 day moving average price is $49.69.
1st Source Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Friday, February 2nd. 1st Source's dividend payout ratio (DPR) is presently 27.04%.
Insider Buying and Selling
In related news, EVP Jeffrey L. Buhr sold 761 shares of the company'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 completion of the sale, the executive vice president now directly owns 70,252 shares of the company's stock, valued at $3,619,383.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 19.44% of the stock is owned by insiders.
Hedge Funds Weigh In On 1st Source
Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in 1st Source in the fourth quarter worth about $29,000. Osaic Holdings Inc. increased its holdings in shares of 1st Source by 58.4% during the second quarter. Osaic Holdings Inc. now owns 998 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 368 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 1st Source by 176.2% during the third quarter. Tower Research Capital LLC TRC now owns 1,508 shares of the financial services provider's stock valued at $63,000 after acquiring an additional 962 shares in the last quarter. Point72 Middle East FZE acquired a new position in shares of 1st Source during the second quarter valued at about $88,000. Finally, Citigroup Inc. increased its holdings in shares of 1st Source by 297.2% during the first quarter. Citigroup Inc. now owns 2,554 shares of the financial services provider's stock valued at $110,000 after acquiring an additional 1,911 shares in the last quarter. 74.45% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, Keefe, Bruyette & Woods upped their price objective on shares of 1st Source from $52.00 to $53.00 and gave the stock a "market perform" rating in a research note on Monday, January 22nd.
Read Our Latest Stock Analysis on 1st Source
1st Source Company Profile
(
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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.
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