$0.87 EPS Expected for 1st Source Co. (SRCE) This Quarter
Equities research analysts expect that 1st Source Co. (NASDAQ:SRCE) will announce earnings per share of $0.87 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for 1st Source’s earnings, with the highest EPS estimate coming in at $0.88 and the lowest estimate coming in at $0.85. 1st Source reported earnings per share of $0.73 during the same quarter last year, which indicates a positive year-over-year growth rate of 19.2%. The firm is expected to report its next earnings report on Thursday, April 18th.
On average, analysts expect that 1st Source will report full year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.43 to $3.63. For the next financial year, analysts forecast that the firm will post earnings of $3.78 per share, with EPS estimates ranging from $3.69 to $3.86. Zacks’ EPS averages are an average based on a survey of analysts that cover 1st Source.
1st Source (NASDAQ:SRCE) last issued its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.04). The firm had revenue of $80.00 million for the quarter, compared to analyst estimates of $78.90 million. 1st Source had a return on equity of 11.06% and a net margin of 23.26%.
Shares of SRCE stock opened at $44.58 on Monday. The firm has a market cap of $1.15 billion, a P/E ratio of 14.11, a PEG ratio of 1.23 and a beta of 1.13. 1st Source has a 1 year low of $38.44 and a 1 year high of $59.33. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.17.
A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in 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 buying an additional 29,625 shares in the last quarter. Norges Bank purchased a new position in 1st Source during the fourth quarter worth $12,670,000. Millennium Management LLC increased its position in 1st Source by 15.5% during the fourth quarter. Millennium Management LLC now owns 124,108 shares of the financial services provider’s stock worth $5,007,000 after buying an additional 16,614 shares in the last quarter. Legal & General Group Plc increased its position in 1st Source by 8.1% during the fourth quarter. Legal & General Group Plc now owns 5,651 shares of the financial services provider’s stock worth $228,000 after buying an additional 423 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in 1st Source during the fourth quarter worth $105,000. 70.00% of the stock is owned by 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.
Recommended Story: What strategies should day traders use to execute a trade?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for 1st Source Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 1st Source and related companies with MarketBeat.com's FREE daily email newsletter.