DA Davidson Forecasts 1st Source's Q2 Earnings (NASDAQ:SRCE)

1st Source Co. (NASDAQ:SRCE - Free Report) - Stock analysts at DA Davidson issued their Q2 2025 earnings estimates for shares of 1st Source in a research report issued to clients and investors on Monday, April 28th. DA Davidson analyst P. Winter anticipates that the financial services provider will earn $1.47 per share for the quarter. 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 $5.96 EPS and FY2026 earnings at $5.98 EPS.

1st Source (NASDAQ:SRCE - Get Free Report) last announced 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. 1st Source had a return on equity of 11.92% and a net margin of 23.10%. The firm had revenue of $104.04 million during the quarter, compared to the consensus estimate of $100.97 million.

Several other analysts have also weighed in on the company. Weiss Ratings reissued a "buy (b)" rating on shares of 1st Source in a report on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on 1st Source from $67.00 to $69.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Finally, Piper Sandler increased their price objective on 1st Source from $72.50 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th.

1st Source Stock Performance

SRCE stock traded up $1.45 on Tuesday, reaching $61.51. 55,693 shares of the company were exchanged, compared to its average volume of 83,607. The firm has a market capitalization of $1.51 billion, a PE ratio of 11.48 and a beta of 0.69. 1st Source has a 12 month low of $48.97 and a 12 month high of $68.13. The stock's fifty day moving average price is $59.17 and its 200 day moving average price is $61.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94.

Institutional Trading of 1st Source

A number of hedge funds and other institutional investors have recently made changes to their positions in SRCE. R Squared Ltd acquired a new stake in 1st Source in the 4th quarter valued at about $40,000. Financial Life Planners bought a new stake in shares of 1st Source during the fourth quarter valued at approximately $48,000. Jones Financial Companies Lllp increased its holdings in shares of 1st Source by 61.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,222 shares of the financial services provider's stock valued at $71,000 after purchasing an additional 465 shares in the last quarter. Picton Mahoney Asset Management raised its position in 1st Source by 105.6% in the 4th quarter. Picton Mahoney Asset Management now owns 1,902 shares of the financial services provider's stock worth $111,000 after purchasing an additional 977 shares during the last quarter. Finally, Aquatic Capital Management LLC lifted its holdings in 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 in the last quarter. 74.45% of the stock is currently owned by institutional investors and hedge funds.

1st Source Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.47%. This is a positive change from 1st Source's previous quarterly dividend of $0.36. 1st Source's 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.