1st Source Co. (NASDAQ:SRCE) – Equities researchers at DA Davidson raised their Q1 2018 EPS estimates for 1st Source in a report released on Friday. DA Davidson analyst K. Reevey now anticipates that the financial services provider will post earnings of $0.79 per share for the quarter, up from their prior estimate of $0.68. DA Davidson currently has a “Hold” rating and a $53.00 target price on the stock. DA Davidson also issued estimates for 1st Source’s Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.79 EPS and FY2019 earnings at $3.43 EPS.
1st Source (NASDAQ:SRCE) last issued its earnings results on Friday, January 19th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). 1st Source had a return on equity of 9.37% and a net margin of 21.88%. The business had revenue of $74.49 million for the quarter, compared to analyst estimates of $71.40 million.
Shares of 1st Source (NASDAQ SRCE) opened at $53.14 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. 1st Source has a 12-month low of $42.15 and a 12-month high of $53.73. The firm has a market capitalization of $1,378.24, a PE ratio of 20.36, a PEG ratio of 1.85 and a beta of 1.06.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRCE. Janus Henderson Group PLC acquired a new position in 1st Source during the second quarter worth approximately $18,196,000. Vanguard Group Inc. increased its position in 1st Source by 3.8% during the second quarter. Vanguard Group Inc. now owns 711,898 shares of the financial services provider’s stock worth $34,129,000 after buying an additional 26,341 shares during the period. Chicago Equity Partners LLC increased its position in 1st Source by 112.6% during the third quarter. Chicago Equity Partners LLC now owns 32,465 shares of the financial services provider’s stock worth $1,649,000 after buying an additional 17,195 shares during the period. Citadel Advisors LLC increased its position in 1st Source by 345.3% during the second quarter. Citadel Advisors LLC now owns 21,350 shares of the financial services provider’s stock worth $1,024,000 after buying an additional 16,556 shares during the period. Finally, State Street Corp increased its position in 1st Source by 5.5% during the second quarter. State Street Corp now owns 306,993 shares of the financial services provider’s stock worth $14,714,000 after buying an additional 16,134 shares during the period. 70.33% of the stock is currently owned by institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 5th will be given a dividend of $0.22 per share. This is a positive change from 1st Source’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, February 2nd. This represents a $0.88 annualized dividend and a yield of 1.66%. 1st Source’s payout ratio is 30.65%.
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.
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