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

1st Source (NASDAQ:SRCE) is scheduled 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 released its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $1.16 earnings per share (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 the consensus estimate 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 Stock Down 0.4 %

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

1st Source Dividend Announcement

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

Insider Activity

In related news, EVP Jeffrey L. Buhr sold 761 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $51.52, for a total value of $39,206.72. Following the completion of the sale, the executive vice president now directly owns 70,252 shares in the company, valued at $3,619,383.04. The sale was disclosed in a filing with the SEC, which is available at this link. 19.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On 1st Source

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in 1st Source by 21.7% during the fourth quarter. Vanguard Group Inc. now owns 1,024,823 shares of the financial services provider’s stock worth $56,314,000 after purchasing an additional 182,485 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 1st Source by 28.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,557 shares of the financial services provider’s stock valued at $800,000 after acquiring an additional 3,227 shares during the last quarter. Barclays PLC lifted its stake in shares of 1st Source by 61.1% in the 4th quarter. Barclays PLC now owns 39,326 shares of the financial services provider’s stock valued at $2,160,000 after acquiring an additional 14,922 shares during the last quarter. Oberweis Asset Management Inc. lifted its stake in shares of 1st Source by 7.3% in the 4th quarter. Oberweis Asset Management Inc. now owns 60,000 shares of the financial services provider’s stock valued at $3,297,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in shares of 1st Source by 4.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 153,944 shares of the financial services provider’s stock valued at $8,459,000 after acquiring an additional 6,144 shares during the last quarter. 74.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their price target on 1st Source from $52.00 to $53.00 and gave the stock a “market perform” rating in a research report 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.