1st Source (SRCE) Scheduled to Post Quarterly Earnings on Thursday

1st Source (NASDAQ:SRCE) will issue its quarterly earnings data after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $1.34 per share for the quarter.

1st Source (NASDAQ:SRCE) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.24. The business had revenue of $144.39 million for the quarter, compared to analyst estimates of $95.80 million. 1st Source had a return on equity of 12.02% and a net margin of 23.23%. During the same quarter in the prior year, the company earned $1.30 earnings per share. 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 Stock Up 0.5 %

Shares of NASDAQ:SRCE opened at $59.89 on Wednesday. The business’s 50 day simple moving average is $59.35 and its two-hundred day simple moving average is $55.40. The firm has a market cap of $1.47 billion, a P/E ratio of 11.61 and a beta of 0.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.94 and a current ratio of 0.94. 1st Source has a 52-week low of $43.30 and a 52-week high of $65.63.

1st Source Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.44 annualized dividend and a yield of 2.40%. This is a positive change from 1st Source’s previous quarterly dividend of $0.34. 1st Source’s dividend payout ratio is presently 27.91%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SRCE shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 target price (up previously from $54.00) on shares of 1st Source in a report on Monday, July 29th. Piper Sandler lowered 1st Source from an “overweight” rating to a “neutral” rating and raised their target price for the company from $60.00 to $67.50 in a report on Monday, July 29th.

About 1st Source

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.