1st Source (SRCE) to Release Quarterly Earnings on Thursday

1st Source (NASDAQ:SRCE) will issue its quarterly earnings data after the market closes on Thursday, April 18th. Analysts expect the company to announce earnings of $1.17 per share for the quarter.

1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $1.16 earnings per share for the quarter. The business had revenue of $91.41 million for the quarter, compared to the consensus estimate 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 Price Performance

Shares of NASDAQ SRCE traded down $0.18 during midday trading on Wednesday, reaching $47.76. The stock had a trading volume of 49,073 shares, compared to its average volume of 64,893. The stock has a 50-day moving average of $50.30 and a 200-day moving average of $49.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 9.49 and a beta of 0.79. 1st Source has a 12-month low of $38.77 and a 12-month high of $56.59.

1st Source Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a $0.34 dividend. The ex-dividend date was Friday, February 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.85%. 1st Source’s dividend payout ratio (DPR) is presently 27.04%.

Insider Activity at 1st Source

In related news, EVP Jeffrey L. Buhr sold 761 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $51.52, for a total transaction of $39,206.72. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 1st Source

Institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new stake in shares of 1st Source in the 4th quarter worth about $29,000. Osaic Holdings Inc. lifted its holdings in shares of 1st Source by 58.4% in the 2nd quarter. Osaic Holdings Inc. now owns 998 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 368 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of 1st Source by 176.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,508 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 962 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of 1st Source in the 2nd quarter worth about $88,000. Finally, Citigroup Inc. lifted its holdings in shares of 1st Source by 297.2% in the 1st quarter. Citigroup Inc. now owns 2,554 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 1,911 shares during the last quarter. Institutional investors own 74.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased 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.

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.