1st Source (SRCE) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

1st Source (NASDAQ:SRCE) released its quarterly earnings data on Thursday. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07), Yahoo Finance reports. The company had revenue of $74.49 million for the quarter, compared to the consensus estimate of $71.40 million. 1st Source had a net margin of 21.74% and a return on equity of 9.43%.

1st Source (NASDAQ SRCE) traded up $1.14 during mid-day trading on Friday, hitting $53.14. 107,404 shares of the company were exchanged, compared to its average volume of 46,785. 1st Source has a 1 year low of $42.15 and a 1 year high of $53.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $1,380.00, a price-to-earnings ratio of 21.26, a PEG ratio of 1.81 and a beta of 1.06.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be issued a $0.22 dividend. The ex-dividend date is Friday, February 2nd. This is a positive change from 1st Source’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.66%. 1st Source’s dividend payout ratio (DPR) is 32.00%.

Several research firms have recently issued reports on SRCE. Piper Jaffray Companies set a $55.00 price objective on shares of 1st Source and gave the company a “buy” rating in a research report on Friday, October 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price objective on shares of 1st Source in a research report on Tuesday, October 3rd. ValuEngine upgraded shares of 1st Source from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research cut shares of 1st Source from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, BidaskClub cut shares of 1st Source from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. 1st Source currently has a consensus rating of “Hold” and a consensus target price of $55.75.

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About 1st Source

1st Source Corporation is a bank holding company. The Company, through its subsidiaries, provides a range of financial products and services. It is engaged in commercial banking. 1st Source Bank (Bank), its banking subsidiary, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients.

Earnings History for 1st Source (NASDAQ:SRCE)

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