Brokerages Expect 1st Source Co. (SRCE) to Post $0.87 EPS

Wall Street analysts expect 1st Source Co. (NASDAQ:SRCE) to post $0.87 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for 1st Source’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.88. 1st Source reported earnings per share of $0.73 during the same quarter last year, which suggests a positive year over year growth rate of 19.2%. The firm is scheduled to report its next earnings report on Thursday, April 18th.

According to Zacks, analysts expect that 1st Source will report full-year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.43 to $3.63. For the next financial year, analysts anticipate that the business will post earnings of $3.78 per share, with EPS estimates ranging from $3.69 to $3.86. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for 1st Source.

1st Source (NASDAQ:SRCE) last posted its earnings results on Thursday, January 24th. The financial services provider reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.04). 1st Source had a net margin of 23.26% and a return on equity of 11.06%. The firm had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $78.90 million.

A number of research analysts have issued reports on SRCE shares. Zacks Investment Research raised shares of 1st Source from a “sell” rating to a “hold” rating in a report on Tuesday, February 19th. ValuEngine raised shares of 1st Source from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Finally, BidaskClub raised shares of 1st Source from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 30th.

NASDAQ:SRCE traded down $0.30 during midday trading on Monday, reaching $44.91. 56,745 shares of the stock traded hands, compared to its average volume of 52,628. 1st Source has a 12-month low of $38.44 and a 12-month high of $59.33. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.28 and a beta of 1.13.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. purchased a new position in shares of 1st Source in the fourth quarter worth $105,000. Metropolitan Life Insurance Co. NY raised its holdings in shares of 1st Source by 390.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,383 shares of the financial services provider’s stock worth $217,000 after buying an additional 4,286 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of 1st Source by 8.1% in the fourth quarter. Legal & General Group Plc now owns 5,651 shares of the financial services provider’s stock worth $228,000 after buying an additional 423 shares during the last quarter. Citigroup Inc. raised its holdings in shares of 1st Source by 40.0% in the fourth quarter. Citigroup Inc. now owns 6,146 shares of the financial services provider’s stock worth $248,000 after buying an additional 1,757 shares during the last quarter. Finally, Ocean Capital Management LLC purchased a new position in shares of 1st Source in the fourth quarter worth $272,000. 70.00% of the stock is owned by institutional investors and hedge funds.

About 1st Source

1st Source Corporation operates as the holding company for 1st Source Bank that provides commercial and consumer banking services, trust and investment management services, and insurance 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 loans, and lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.

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Earnings History and Estimates for 1st Source (NASDAQ:SRCE)

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