1st Source Corporation (NASDAQ:SRCE) – Research analysts at DA Davidson upped their Q3 2017 earnings per share (EPS) estimates for shares of 1st Source Corporation in a report issued on Friday. DA Davidson analyst K. Reevey now expects that the financial services provider will post earnings of $0.64 per share for the quarter, up from their previous estimate of $0.63. DA Davidson also issued estimates for 1st Source Corporation’s FY2017 earnings at $2.56 EPS and FY2018 earnings at $2.88 EPS.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of 1st Source Corporation from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Wednesday, April 26th. ValuEngine upgraded shares of 1st Source Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of 1st Source Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 target price on shares of 1st Source Corporation in a research report on Sunday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. 1st Source Corporation currently has an average rating of “Hold” and an average target price of $48.67.
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Shares of 1st Source Corporation (SRCE) opened at 49.10 on Monday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 20.54 and a beta of 1.03. 1st Source Corporation has a 52 week low of $33.27 and a 52 week high of $50.78. The firm’s 50-day moving average is $48.19 and its 200-day moving average is $46.72.
1st Source Corporation (NASDAQ:SRCE) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $70 million during the quarter, compared to analyst estimates of $68.90 million. 1st Source Corporation had a net margin of 21.41% and a return on equity of 9.14%.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, August 3rd. 1st Source Corporation’s dividend payout ratio (DPR) is presently 31.80%.
A number of institutional investors have recently modified their holdings of the company. Karp Capital Management Corp bought a new stake in 1st Source Corporation during the first quarter worth about $206,000. Virginia Retirement Systems ET AL bought a new stake in 1st Source Corporation during the first quarter worth about $211,000. Citadel Advisors LLC bought a new stake in 1st Source Corporation during the first quarter worth about $225,000. Aperio Group LLC increased its stake in 1st Source Corporation by 16.1% in the second quarter. Aperio Group LLC now owns 5,104 shares of the financial services provider’s stock worth $245,000 after buying an additional 709 shares during the period. Finally, Bank of America Corp DE increased its stake in 1st Source Corporation by 11.6% in the first quarter. Bank of America Corp DE now owns 5,974 shares of the financial services provider’s stock worth $280,000 after buying an additional 620 shares during the period. 69.68% of the stock is currently owned by institutional investors.
About 1st Source Corporation
1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.
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