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

1st Source (NASDAQ:SRCE) is scheduled to be issuing 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 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 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 Price Performance

NASDAQ SRCE traded down $0.21 on Wednesday, reaching $47.73. The company’s stock had a trading volume of 32,067 shares, compared to its average volume of 64,793. The firm’s 50 day moving average is $50.30 and its two-hundred day moving average is $49.70. The stock has a market cap of $1.17 billion, a PE ratio of 9.53 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. 1st Source has a twelve month low of $38.77 and a twelve month high of $56.59.

1st Source Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid 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 dividend payout ratio is presently 27.04%.

Insiders Place Their Bets

In other news, EVP Jeffrey L. Buhr sold 761 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 $3,619,383.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 19.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in 1st Source by 21.7% in the 4th quarter. Vanguard Group Inc. now owns 1,024,823 shares of the financial services provider’s stock worth $56,314,000 after acquiring an additional 182,485 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 1st Source by 28.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,557 shares of the financial services provider’s stock worth $800,000 after purchasing an additional 3,227 shares in the last quarter. Barclays PLC boosted its holdings in shares of 1st Source by 61.1% during the fourth quarter. Barclays PLC now owns 39,326 shares of the financial services provider’s stock worth $2,160,000 after purchasing an additional 14,922 shares during the period. Oberweis Asset Management Inc. grew its position in 1st Source by 7.3% during the fourth quarter. Oberweis Asset Management Inc. now owns 60,000 shares of the financial services provider’s stock valued at $3,297,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in 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 buying an additional 6,144 shares during the period. Hedge funds and other institutional investors own 74.45% of the company’s stock.

Analysts Set New Price Targets

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