1st Source (SRCE) to Release Earnings on Thursday

1st Source (NASDAQ:SRCE) is scheduled to announce its earnings results 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 issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $95.80 million. During the same period in the prior 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 Stock Performance

Shares of NASDAQ SRCE opened at $59.89 on Wednesday. The stock’s fifty day moving average price is $59.35 and its two-hundred day moving average price is $55.40. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 11.61 and a beta of 0.78. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.94 and a quick ratio of 0.94. 1st Source has a one year low of $43.30 and a one year high of $65.63.

1st Source Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from 1st Source’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, August 5th. 1st Source’s dividend payout ratio is presently 27.91%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler downgraded 1st Source from an “overweight” rating to a “neutral” rating and upped their target price for the company 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 from $54.00) on shares of 1st Source in a research 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.