1st Source (SRCE) Set to Announce 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 EPS for the quarter. 1st Source had a return on equity of 12.49% and a net margin of 24.61%. The firm had revenue of $91.41 million for the quarter, compared to analyst estimates of $91.20 million. 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 Trading Down 0.4 %

Shares of NASDAQ SRCE traded down $0.18 during trading on Wednesday, reaching $47.76. The company had a trading volume of 49,073 shares, compared to its average volume of 65,084. The company’s fifty day moving average price is $50.30 and its 200-day moving average price is $49.70. 1st Source has a 12 month low of $38.77 and a 12 month high of $56.59. The stock has a market cap of $1.17 billion, a P/E ratio of 9.49 and a beta of 0.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

1st Source Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given 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%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their target price on 1st Source from $52.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, January 22nd.

Insider Activity at 1st Source

In related news, EVP Jeffrey L. Buhr sold 761 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $51.52, for a total transaction of $39,206.72. Following the sale, the executive vice president now owns 70,252 shares in the company, valued at approximately $3,619,383.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in 1st Source during the 4th quarter worth approximately $29,000. Osaic Holdings Inc. raised its stake in 1st Source by 58.4% during the 2nd quarter. Osaic Holdings Inc. now owns 998 shares of the financial services provider’s stock worth $42,000 after buying an additional 368 shares during the period. Tower Research Capital LLC TRC raised its stake in 1st Source by 176.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,508 shares of the financial services provider’s stock worth $63,000 after buying an additional 962 shares during the period. Point72 Middle East FZE purchased a new stake in shares of 1st Source in the second quarter worth approximately $88,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of 1st Source by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,356 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 218 shares during the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.

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.