Equities research analysts expect 1st Source Co. (NASDAQ:SRCE) to announce $81.30 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for 1st Source’s earnings. The lowest sales estimate is $81.00 million and the highest is $81.60 million. 1st Source reported sales of $78.42 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 17th.

On average, analysts expect that 1st Source will report full-year sales of $323.25 million for the current financial year, with estimates ranging from $321.10 million to $325.40 million. For the next year, analysts expect that the firm will post sales of $337.95 million, with estimates ranging from $336.40 million to $339.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for 1st Source.

1st Source (NASDAQ:SRCE) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The company had revenue of $82.09 million for the quarter, compared to analysts’ expectations of $80.85 million. 1st Source had a return on equity of 11.22% and a net margin of 23.31%.

A number of equities research analysts have recently commented on the company. BidaskClub upgraded 1st Source from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. Zacks Investment Research cut 1st Source from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, ValuEngine upgraded 1st Source from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRCE. Bank of New York Mellon Corp grew its position in 1st Source by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 124,980 shares of the financial services provider’s stock worth $5,042,000 after purchasing an additional 10,515 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 1st Source by 15.3% during the 4th quarter. Geode Capital Management LLC now owns 222,774 shares of the financial services provider’s stock valued at $8,986,000 after acquiring an additional 29,625 shares in the last quarter. Bank of America Corp DE boosted its position in shares of 1st Source by 187.0% during the 4th quarter. Bank of America Corp DE now owns 18,383 shares of the financial services provider’s stock valued at $742,000 after acquiring an additional 11,977 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of 1st Source during the 4th quarter valued at about $436,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of 1st Source by 390.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,383 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 4,286 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

NASDAQ SRCE opened at $44.95 on Friday. The company has a market cap of $1.15 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. 1st Source has a one year low of $38.44 and a one year high of $57.96. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $45.48.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, August 2nd. 1st Source’s payout ratio is 34.18%.

1st Source Company Profile

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.

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

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