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

1st Source (NASDAQ:SRCE) is set to release its earnings data after the market closes on Thursday, October 24th. Analysts expect 1st Source to post earnings of $1.34 per share for the quarter.

1st Source (NASDAQ:SRCE) last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.24. 1st Source had a return on equity of 12.02% and a net margin of 23.23%. The firm had revenue of $144.39 million during the quarter, compared to analyst estimates of $95.80 million. During the same period last year, the firm posted $1.30 EPS. 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 Trading Up 1.5 %

Shares of SRCE opened at $61.56 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $1.51 billion, a P/E ratio of 12.39 and a beta of 0.78. 1st Source has a fifty-two week low of $42.33 and a fifty-two week high of $65.63. The business has a 50-day moving average of $59.08 and a 200 day moving average of $55.14.

1st Source Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a $0.36 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.44 annualized dividend and a yield of 2.34%. This is an increase from 1st Source’s previous quarterly dividend of $0.34. 1st Source’s payout ratio is presently 28.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SRCE. Piper Sandler cut 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 restated a “market perform” rating and set a $62.00 price objective (up previously from $54.00) on shares of 1st Source in a 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.