Wall Street brokerages predict that 1st Source Co. (NASDAQ:SRCE) will report earnings per share (EPS) of $0.88 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for 1st Source’s earnings, with the lowest EPS estimate coming in at $0.87 and the highest estimate coming in at $0.88. 1st Source posted earnings of $0.66 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.3%. The company is scheduled to report its next earnings report on Thursday, October 18th.

On average, analysts expect that 1st Source will report full year earnings of $3.34 per share for the current fiscal year, with EPS estimates ranging from $3.32 to $3.36. For the next financial year, analysts anticipate that the business will post earnings of $3.67 per share, with EPS estimates ranging from $3.53 to $3.80. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow 1st Source.

1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.84 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.84. The firm had revenue of $78.19 million during the quarter, compared to analysts’ expectations of $76.80 million. 1st Source had a return on equity of 10.18% and a net margin of 22.84%.

A number of equities analysts have weighed in on SRCE shares. BidaskClub upgraded 1st Source from a “hold” rating to a “buy” rating in a report on Friday, June 8th. Zacks Investment Research raised 1st Source from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $56.75.

NASDAQ SRCE traded up $0.35 on Thursday, reaching $52.73. The company had a trading volume of 622 shares, compared to its average volume of 32,978. The stock has a market cap of $1.39 billion, a PE ratio of 21.09, a P/E/G ratio of 1.60 and a beta of 0.96. 1st Source has a 1 year low of $47.16 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 0.18.

In other 1st Source news, EVP Jeffrey L. Buhr sold 1,450 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $56.98, for a total value of $82,621.00. Following the transaction, the executive vice president now directly owns 50,911 shares of the company’s stock, valued at approximately $2,900,908.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey L. Buhr sold 550 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $56.92, for a total value of $31,306.00. Following the completion of the transaction, the insider now directly owns 52,361 shares in the company, valued at $2,980,388.12. The disclosure for this sale can be found here. Corporate insiders own 19.92% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp raised its position in shares of 1st Source by 1.0% in the 2nd quarter. Northern Trust Corp now owns 262,567 shares of the financial services provider’s stock valued at $14,028,000 after purchasing an additional 2,557 shares in the last quarter. California Public Employees Retirement System raised its position in shares of 1st Source by 13.4% in the 2nd quarter. California Public Employees Retirement System now owns 42,908 shares of the financial services provider’s stock valued at $2,293,000 after purchasing an additional 5,080 shares in the last quarter. Zacks Investment Management raised its position in shares of 1st Source by 7.3% during the 2nd quarter. Zacks Investment Management now owns 46,264 shares of the financial services provider’s stock valued at $2,472,000 after acquiring an additional 3,138 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of 1st Source by 19.6% during the 2nd quarter. Renaissance Technologies LLC now owns 232,814 shares of the financial services provider’s stock valued at $12,439,000 after acquiring an additional 38,100 shares in the last quarter. Finally, United Services Automobile Association raised its position in shares of 1st Source by 28.3% during the 2nd quarter. United Services Automobile Association now owns 196,812 shares of the financial services provider’s stock valued at $10,516,000 after acquiring an additional 43,390 shares in the last quarter. 70.82% of the stock is currently owned by institutional investors.

1st Source Company Profile

1st Source Corporation operates as the bank 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.

Further Reading: Diversification Important in Investing

Get a free copy of the Zacks research report on 1st Source (SRCE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for 1st Source (NASDAQ:SRCE)

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.