1st Source (SRCE) Issues Quarterly Earnings Results

1st Source (NASDAQ:SRCE) announced its quarterly earnings results on Thursday. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07), Yahoo Finance reports. The company had revenue of $74.49 million for the quarter, compared to analyst estimates of $71.40 million. 1st Source had a return on equity of 9.43% and a net margin of 21.74%.

Shares of 1st Source (NASDAQ SRCE) traded up $1.14 during trading on Friday, reaching $53.14. 107,404 shares of the company were exchanged, compared to its average volume of 46,785. The stock has a market cap of $1,380.00, a price-to-earnings ratio of 21.26, a PEG ratio of 1.81 and a beta of 1.06. 1st Source has a 1 year low of $42.15 and a 1 year high of $53.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This is a positive change from 1st Source’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 1.66%. 1st Source’s dividend payout ratio (DPR) is currently 32.00%.

Several brokerages have weighed in on SRCE. Piper Jaffray Companies reaffirmed a “buy” rating and set a $59.00 price target on shares of 1st Source in a research report on Tuesday, January 9th. ValuEngine upgraded 1st Source from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Keefe, Bruyette & Woods restated a “hold” rating and set a $53.00 target price on shares of 1st Source in a research report on Friday, December 22nd. Zacks Investment Research cut 1st Source from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, BidaskClub cut 1st Source from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. 1st Source currently has a consensus rating of “Hold” and an average target price of $55.75.

WARNING: “1st Source (SRCE) Issues Quarterly Earnings Results” was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this news story on another site, it was stolen and reposted in violation of international trademark & copyright law. The original version of this news story can be read at https://sportsperspectives.com/2018/01/19/1st-source-srce-issues-quarterly-earnings-results.html.

1st Source Company Profile

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.

Earnings History 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.

Latest News

Leave a Reply