1st Source Co. (SRCE) Expected to Post Earnings of $0.89 Per Share

Equities research analysts expect 1st Source Co. (NASDAQ:SRCE) to report $0.89 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for 1st Source’s earnings. The lowest EPS estimate is $0.86 and the highest is $0.91. 1st Source posted earnings of $0.84 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The firm is scheduled to report its next earnings report on Thursday, July 18th.

On average, analysts expect that 1st Source will report full-year earnings of $3.53 per share for the current financial year, with EPS estimates ranging from $3.43 to $3.63. For the next year, analysts expect that the business will report earnings of $3.78 per share, with EPS estimates ranging from $3.69 to $3.86. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for 1st Source.

1st Source (NASDAQ:SRCE) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.01. The firm had revenue of $79.07 million during the quarter, compared to the consensus estimate of $79.45 million. 1st Source had a net margin of 23.46% and a return on equity of 11.38%.

Several analysts have issued reports on SRCE shares. BidaskClub raised shares of 1st Source from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 30th. Zacks Investment Research raised shares of 1st Source from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Finally, ValuEngine downgraded shares of 1st Source from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd.

Several institutional investors have recently added to or reduced their stakes in the company. Isthmus Partners LLC boosted its stake in shares of 1st Source by 2.9% during the 1st quarter. Isthmus Partners LLC now owns 23,400 shares of the financial services provider’s stock valued at $1,051,000 after buying an additional 667 shares during the last quarter. BTIM Corp. lifted its stake in 1st Source by 2.5% during the first quarter. BTIM Corp. now owns 246,064 shares of the financial services provider’s stock worth $11,051,000 after purchasing an additional 6,055 shares during the last quarter. Reinhart Partners Inc. lifted its stake in 1st Source by 47.2% during the first quarter. Reinhart Partners Inc. now owns 119,829 shares of the financial services provider’s stock worth $5,382,000 after purchasing an additional 38,438 shares during the last quarter. Geode Capital Management LLC lifted its stake in 1st Source by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 222,774 shares of the financial services provider’s stock worth $8,986,000 after purchasing an additional 29,625 shares during the last quarter. Finally, Norges Bank bought a new position in 1st Source during the fourth quarter worth $12,670,000. Institutional investors own 70.00% of the company’s stock.

SRCE opened at $45.87 on Wednesday. The company has a market cap of $1.22 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.30 and a beta of 1.12. 1st Source has a 1 year low of $38.44 and a 1 year high of $59.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.92.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, May 3rd. 1st Source’s dividend payout ratio (DPR) is 34.18%.

About 1st Source

1st Source Corporation operates as the holding company for 1st Source Bank that provides commercial and consumer banking services, trust and investment management services, and insurance 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 loans, and lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.

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Earnings History and Estimates for 1st Source (NASDAQ:SRCE)

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