1st Source Co. (NASDAQ:SRCE – Get Rating) – Analysts at DA Davidson raised their FY2022 earnings estimates for 1st Source in a research report issued to clients and investors on Thursday, June 30th. DA Davidson analyst M. Navas now expects that the financial services provider will post earnings per share of $4.22 for the year, up from their prior forecast of $4.10. The consensus estimate for 1st Source’s current full-year earnings is $4.31 per share.
1st Source (NASDAQ:SRCE – Get Rating) last issued its earnings results on Thursday, April 21st. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $82.76 million for the quarter, compared to analyst estimates of $82.30 million. 1st Source had a net margin of 33.48% and a return on equity of 12.43%.
Shares of NASDAQ:SRCE opened at $46.05 on Friday. The firm has a market cap of $1.14 billion, a PE ratio of 9.82 and a beta of 1.02. The firm’s fifty day moving average is $45.15 and its 200-day moving average is $47.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.85 and a current ratio of 0.86. 1st Source has a 52 week low of $41.19 and a 52 week high of $52.69.
The business also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Tuesday, May 3rd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, May 2nd. 1st Source’s dividend payout ratio (DPR) is currently 26.44%.
In related news, Director Daniel B. Fitzpatrick purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was purchased at an average cost of $43.13 per share, with a total value of $43,130.00. Following the completion of the purchase, the director now owns 45,092 shares in the company, valued at approximately $1,944,817.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 19.05% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank bought a new stake in 1st Source in the 1st quarter worth about $94,000. Aurora Investment Counsel boosted its stake in 1st Source by 2.2% in the first quarter. Aurora Investment Counsel now owns 20,946 shares of the financial services provider’s stock valued at $969,000 after acquiring an additional 458 shares during the last quarter. Jane Street Group LLC purchased a new position in 1st Source in the first quarter valued at about $307,000. Goldman Sachs Group Inc. lifted its stake in shares of 1st Source by 3.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 145,731 shares of the financial services provider’s stock valued at $6,741,000 after buying an additional 4,643 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of 1st Source by 12.2% during the 1st quarter. State Street Corp now owns 531,972 shares of the financial services provider’s stock valued at $24,604,000 after buying an additional 57,730 shares in the last quarter. 72.96% of the stock is owned by institutional investors and hedge funds.
1st Source Company Profile (Get Rating)
1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products 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 mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.
- Get a free copy of the StockNews.com research report on 1st Source (SRCE)
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