1st Source Co. (SRCE) Expected to Post Earnings of $0.87 Per Share

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Wall Street brokerages expect that 1st Source Co. (NASDAQ:SRCE) will report earnings per share of $0.87 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for 1st Source’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.88. 1st Source posted earnings per share of $0.73 in the same quarter last year, which suggests a positive year over year growth rate of 19.2%. The firm is scheduled to report its next quarterly earnings report on Thursday, April 18th.

According to Zacks, analysts expect that 1st Source will report full year earnings of $3.53 per share for the current 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’ earnings per share calculations are a mean average based on a survey of research analysts that follow 1st Source.

1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.04). 1st Source had a net margin of 23.26% and a return on equity of 11.16%. The company had revenue of $80.00 million during the quarter, compared to analyst estimates of $78.90 million.

A number of equities research analysts have commented on SRCE shares. ValuEngine lowered 1st Source from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. BidaskClub lowered 1st Source from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. Finally, Zacks Investment Research lowered 1st Source from a “hold” rating to a “sell” rating in a research report on Thursday, October 25th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in 1st Source by 3.1% during the 4th quarter. BlackRock Inc. now owns 1,195,480 shares of the financial services provider’s stock worth $48,225,000 after acquiring an additional 36,137 shares during the period. Vanguard Group Inc. raised its stake in shares of 1st Source by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 713,841 shares of the financial services provider’s stock worth $37,562,000 after purchasing an additional 20,326 shares in the last quarter. Vanguard Group Inc raised its stake in shares of 1st Source by 2.9% during the 3rd quarter. Vanguard Group Inc now owns 713,841 shares of the financial services provider’s stock worth $37,562,000 after purchasing an additional 20,326 shares in the last quarter. Northern Trust Corp raised its stake in shares of 1st Source by 1.0% during the 2nd quarter. Northern Trust Corp now owns 262,567 shares of the financial services provider’s stock worth $14,028,000 after purchasing an additional 2,557 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of 1st Source by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 243,772 shares of the financial services provider’s stock worth $12,828,000 after purchasing an additional 1,177 shares in the last quarter. Hedge funds and other institutional investors own 71.05% of the company’s stock.

Shares of NASDAQ SRCE opened at $45.75 on Friday. 1st Source has a one year low of $38.44 and a one year high of $59.33. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Monday, February 4th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, February 1st. This is a positive change from 1st Source’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 2.36%. 1st Source’s dividend payout ratio (DPR) is presently 34.18%.

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 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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