1st Source (NASDAQ:SRCE) Releases Quarterly Earnings Results

1st Source (NASDAQ:SRCE) posted its earnings results on Thursday, April 18th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.01, Bloomberg Earnings reports. The firm had revenue of $79.07 million during the quarter, compared to analysts’ expectations of $79.45 million. 1st Source had a net margin of 23.46% and a return on equity of 11.27%.

NASDAQ SRCE traded up $0.08 on Friday, hitting $47.38. 23,008 shares of the company’s stock were exchanged, compared to its average volume of 35,785. 1st Source has a 52 week low of $38.44 and a 52 week high of $59.33. The stock has a market capitalization of $1.21 billion, a PE ratio of 14.99, a PEG ratio of 1.33 and a beta of 1.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.93.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, May 3rd. 1st Source’s payout ratio is presently 34.18%.

A number of brokerages have weighed in on SRCE. BidaskClub raised 1st Source from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 30th. Zacks Investment Research raised 1st Source from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Finally, ValuEngine downgraded 1st Source from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd.

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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 for 1st Source (NASDAQ:SRCE)

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