DA Davidson Has Positive View of 1st Source FY2025 Earnings

1st Source Co. (NASDAQ:SRCE) – Analysts at DA Davidson boosted their FY2025 earnings estimates for shares of 1st Source in a report issued on Monday, October 28th. DA Davidson analyst P. Winter now expects that the financial services provider will earn $5.59 per share for the year, up from their previous estimate of $5.51. The consensus estimate for 1st Source’s current full-year earnings is $5.37 per share.

SRCE has been the subject of several other reports. Piper Sandler downgraded 1st Source from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $60.00 to $67.50 in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 price target (up previously from $54.00) on shares of 1st Source in a research note on Monday, July 29th.

1st Source Stock Up 0.6 %

Shares of NASDAQ SRCE opened at $60.94 on Tuesday. The stock has a market cap of $1.49 billion, a PE ratio of 12.26 and a beta of 0.78. 1st Source has a 52-week low of $44.61 and a 52-week high of $65.63. The business has a 50-day moving average price of $59.64 and a 200 day moving average price of $55.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.05. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. The company had revenue of $97.93 million during the quarter, compared to the consensus estimate of $97.30 million. During the same quarter in the prior year, the firm posted $1.32 earnings per share.

Institutional Investors Weigh In On 1st Source

Large investors have recently modified their holdings of the stock. New York State Teachers Retirement System grew its position in 1st Source by 12.2% in the 3rd quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock valued at $100,000 after buying an additional 182 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of 1st Source by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,356 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 218 shares in the last quarter. Quest Partners LLC increased its stake in shares of 1st Source by 5.2% during the second quarter. Quest Partners LLC now owns 4,664 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 232 shares during the period. Inspire Investing LLC raised its holdings in 1st Source by 4.4% during the third quarter. Inspire Investing LLC now owns 6,908 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 293 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in 1st Source by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 28,263 shares of the financial services provider’s stock valued at $1,515,000 after purchasing an additional 438 shares during the period. Hedge funds and other institutional investors own 74.45% of the company’s stock.

1st Source Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a $0.36 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.36%. 1st Source’s dividend payout ratio (DPR) is currently 28.97%.

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.