1st Source (NASDAQ:SRCE) Releases Earnings Results, Beats Estimates By $0.05 EPS

1st Source (NASDAQ:SRCE) posted its quarterly earnings data on Thursday. The financial services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05, Zacks reports. 1st Source had a net margin of 23.23% and a return on equity of 12.02%. The business had revenue of $97.93 million during the quarter, compared to analyst estimates of $97.30 million. During the same quarter in the previous year, the business posted $1.32 earnings per share.

1st Source Trading Down 3.0 %

Shares of 1st Source stock traded down $1.81 during trading hours on Friday, hitting $57.68. The company’s stock had a trading volume of 35,064 shares, compared to its average volume of 71,952. 1st Source has a 1-year low of $43.35 and a 1-year high of $65.63. The business has a fifty day moving average of $59.50 and a 200 day moving average of $55.53. The company has a market capitalization of $1.41 billion, a PE ratio of 11.97 and a beta of 0.78. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.09.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler lowered shares of 1st Source from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $60.00 to $67.50 in a research report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price target (up previously from $54.00) on shares of 1st Source in a research report on Monday, July 29th.

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.