DA Davidson Analysts Reduce Earnings Estimates for 1st Source Co. (NASDAQ:SRCE)

1st Source Co. (NASDAQ:SRCE) – Equities researchers at DA Davidson lowered their FY2025 earnings per share (EPS) estimates for 1st Source in a research report issued on Thursday, June 27th. DA Davidson analyst P. Winter now expects that the financial services provider will post earnings per share of $4.74 for the year, down from their prior forecast of $4.75. The consensus estimate for 1st Source’s current full-year earnings is $4.84 per share.

Separately, Piper Sandler upped their target price on shares of 1st Source from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, April 29th.

1st Source Stock Performance

NASDAQ SRCE opened at $53.48 on Monday. The firm’s fifty day moving average price is $51.04 and its two-hundred day moving average price is $51.31. 1st Source has a 1 year low of $40.96 and a 1 year high of $56.59. The firm has a market capitalization of $1.31 billion, a P/E ratio of 10.76 and a beta of 0.80. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.17 by $0.02. The company had revenue of $138.62 million during the quarter, compared to the consensus estimate of $93.30 million. 1st Source had a return on equity of 11.99% and a net margin of 23.33%. During the same quarter in the prior year, the firm posted $1.25 EPS.

Hedge Funds Weigh In On 1st Source

Institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG increased its stake in 1st Source by 20.0% during the 3rd quarter. UBS Group AG now owns 49,589 shares of the financial services provider’s stock worth $2,087,000 after acquiring an additional 8,274 shares during the period. Rhumbline Advisers raised its stake in 1st Source by 47.2% in the third quarter. Rhumbline Advisers now owns 50,983 shares of the financial services provider’s stock valued at $2,146,000 after purchasing an additional 16,344 shares in the last quarter. Alps Advisors Inc. bought a new stake in 1st Source during the third quarter worth about $325,000. GSA Capital Partners LLP acquired a new stake in 1st Source during the third quarter worth about $1,180,000. Finally, Vanguard Group Inc. increased its holdings in 1st Source by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 842,338 shares of the financial services provider’s stock valued at $35,454,000 after buying an additional 12,005 shares during the period. 74.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 1st Source

In related news, Director Daniel B. Fitzpatrick bought 1,000 shares of 1st Source stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average price of $49.65 per share, with a total value of $49,650.00. Following the acquisition, the director now owns 48,542 shares of the company’s stock, valued at approximately $2,410,110.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Daniel B. Fitzpatrick bought 1,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $49.65 per share, for a total transaction of $49,650.00. Following the completion of the purchase, the director now owns 48,542 shares in the company, valued at $2,410,110.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey L. Buhr sold 1,925 shares of 1st Source stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $50.84, for a total value of $97,867.00. Following the sale, the executive vice president now directly owns 68,327 shares of the company’s stock, valued at $3,473,744.68. The disclosure for this sale can be found here. Insiders own 19.44% of the company’s stock.

1st Source Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Friday, May 3rd. 1st Source’s dividend payout ratio (DPR) is presently 27.36%.

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.