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

1st Source (NASDAQ:SRCE) is set to release its earnings data after the market closes on Thursday, April 18th. Analysts expect 1st Source to post earnings of $1.17 per share for the quarter.

1st Source (NASDAQ:SRCE) last posted its earnings results on Tuesday, February 20th. The financial services provider reported $1.16 EPS for the quarter. The firm 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 Stock Down 0.4 %

Shares of NASDAQ SRCE traded down $0.18 during mid-day trading on Wednesday, reaching $47.76. The company had a trading volume of 49,073 shares, compared to its average volume of 65,084. 1st Source has a 52-week low of $38.77 and a 52-week 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 has a market cap of $1.17 billion, a P/E ratio of 9.49 and a beta of 0.79. The firm has a 50 day simple moving average of $50.30 and a two-hundred day simple moving average of $49.70.

1st Source Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.85%. The ex-dividend date was Friday, February 2nd. 1st Source’s payout ratio is currently 27.04%.

Insider Activity

In other news, EVP Jeffrey L. Buhr sold 761 shares of 1st Source 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 sale, the executive vice president now owns 70,252 shares of the company’s stock, valued at $3,619,383.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 19.44% of the company’s stock.

Institutional Trading of 1st Source

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of 1st Source in the fourth quarter valued at about $29,000. Osaic Holdings Inc. lifted its stake in shares of 1st Source by 58.4% in the second quarter. Osaic Holdings Inc. now owns 998 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 368 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of 1st Source by 176.2% in 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 purchasing an additional 962 shares during the period. Point72 Middle East FZE acquired a new stake in shares of 1st Source in the second quarter valued at about $88,000. Finally, Citigroup Inc. lifted its stake in shares of 1st Source by 297.2% in the first quarter. Citigroup Inc. now owns 2,554 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 1,911 shares during the period. Hedge funds and other institutional investors own 74.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised 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 report on Monday, January 22nd.

1st Source Company Profile

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.