Equities research analysts predict that 1st Source Co. (NASDAQ:SRCE) will post sales of $80.85 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for 1st Source’s earnings, with the highest sales estimate coming in at $81.60 million and the lowest estimate coming in at $80.10 million. 1st Source posted sales of $78.19 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The firm is expected to report its next quarterly earnings report on Thursday, July 18th.
On average, analysts expect that 1st Source will report full year sales of $323.35 million for the current fiscal year, with estimates ranging from $321.10 million to $325.60 million. For the next year, analysts forecast that the firm will post sales of $337.00 million, with estimates ranging from $336.40 million to $337.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for 1st Source.
1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.01. 1st Source had a net margin of 23.46% and a return on equity of 11.27%. The business had revenue of $79.07 million for the quarter, compared to analysts’ expectations of $79.45 million.
Shares of SRCE stock traded down $0.53 during trading hours on Thursday, reaching $45.89. The stock had a trading volume of 31,900 shares, compared to its average volume of 46,171. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. 1st Source has a twelve month low of $38.44 and a twelve month high of $59.33. The company’s 50-day simple moving average is $45.23. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.31 and a beta of 1.09.
A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of 1st Source in the fourth quarter worth about $12,670,000. Reinhart Partners Inc. boosted its holdings in shares of 1st Source by 47.2% during the first quarter. Reinhart Partners Inc. now owns 119,829 shares of the financial services provider’s stock worth $5,382,000 after purchasing an additional 38,438 shares during the period. BlackRock Inc. boosted its holdings in shares of 1st Source by 3.1% during the fourth quarter. BlackRock Inc. now owns 1,195,480 shares of the financial services provider’s stock worth $48,225,000 after purchasing an additional 36,137 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 1st Source by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 222,774 shares of the financial services provider’s stock worth $8,986,000 after purchasing an additional 29,625 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in shares of 1st Source during the fourth quarter worth approximately $827,000. 70.53% of the stock is currently owned by hedge funds and other institutional investors.
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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