Analysts forecast that 1st Source Co. (NASDAQ:SRCE) will post sales of $79.45 million for the current quarter, according to Zacks. Two analysts have issued estimates for 1st Source’s earnings, with the lowest sales estimate coming in at $79.40 million and the highest estimate coming in at $79.50 million. 1st Source posted sales of $74.34 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.9%. The company is scheduled to report its next quarterly earnings results on Thursday, April 18th.
On average, analysts expect that 1st Source will report full-year sales of $323.60 million for the current year, with estimates ranging from $320.40 million to $326.80 million. For the next fiscal year, analysts expect that the business will post sales of $338.95 million, with estimates ranging from $336.10 million to $341.80 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for 1st Source.
1st Source (NASDAQ:SRCE) last announced its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.04). 1st Source had a net margin of 23.26% and a return on equity of 11.16%. The company had revenue of $80.00 million during the quarter, compared to analyst estimates of $78.90 million.
Institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP acquired a new position in shares of 1st Source in the 3rd quarter valued at $237,000. Citigroup Inc. lifted its stake in 1st Source by 40.0% during the 4th quarter. Citigroup Inc. now owns 6,146 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 1,757 shares in the last quarter. Ocean Capital Management LLC acquired a new position in 1st Source during the 4th quarter worth about $272,000. Assenagon Asset Management S.A. acquired a new position in 1st Source during the 3rd quarter worth about $408,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in 1st Source during the 3rd quarter worth about $495,000. 71.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of 1st Source stock traded up $0.07 on Friday, reaching $46.28. The company’s stock had a trading volume of 260 shares, compared to its average volume of 46,366. The stock has a market capitalization of $1.19 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. 1st Source has a 52-week low of $38.44 and a 52-week high of $59.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.92.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Monday, February 4th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, February 1st. This is a positive change from 1st Source’s previous quarterly dividend of $0.25. 1st Source’s dividend payout ratio is 34.18%.
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 investment management services, and insurance 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 loans, and lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.
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