1st Source (SRCE) to Release Quarterly 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 net margin of 24.61% and a return on equity of 12.49%. The business had revenue of $91.41 million during the quarter, compared to analysts’ expectations 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

Shares of NASDAQ SRCE traded down $0.21 during mid-day trading on Wednesday, reaching $47.73. 32,067 shares of the company were exchanged, compared to its average volume of 64,793. 1st Source has a 52 week low of $38.77 and a 52 week high of $56.59. The company’s 50 day moving average price is $50.30 and its 200 day moving average price is $49.70. The stock has a market capitalization of $1.17 billion, a PE ratio of 9.53 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 company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders 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 of this dividend was Friday, February 2nd. 1st Source’s dividend payout ratio (DPR) is currently 27.04%.

Wall Street Analyst Weigh In

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

Insider Activity at 1st Source

In other news, EVP Jeffrey L. Buhr sold 761 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $51.52, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 1st Source

Several hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC purchased a new stake in 1st Source in the fourth quarter worth about $29,000. Osaic Holdings Inc. lifted its stake in shares of 1st Source by 58.4% in the 2nd quarter. Osaic Holdings Inc. now owns 998 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 368 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of 1st Source by 176.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,508 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 962 shares during the period. Point72 Middle East FZE bought a new stake in shares of 1st Source during the second quarter valued at approximately $88,000. Finally, PNC Financial Services Group Inc. grew its stake in 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 period. 74.45% of the stock is owned by hedge funds and other institutional investors.

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.