FY2022 EPS Estimates for 1st Source Co. Raised by DA Davidson (NASDAQ:SRCE)

1st Source Co. (NASDAQ:SRCEGet Rating) – Equities research analysts at DA Davidson increased their FY2022 EPS estimates for shares of 1st Source in a report released on Monday, April 25th. DA Davidson analyst M. Navas now forecasts that the financial services provider will post earnings of $4.10 per share for the year, up from their previous estimate of $3.82. DA Davidson also issued estimates for 1st Source’s FY2023 earnings at $4.10 EPS.

A number of other research analysts have also recently commented on the company. Zacks Investment Research raised 1st Source from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Friday, April 1st. StockNews.com assumed coverage on 1st Source in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

Shares of 1st Source stock opened at $46.34 on Tuesday. The business has a 50 day moving average price of $47.28. 1st Source has a 52-week low of $41.19 and a 52-week high of $52.69. The company has a market capitalization of $1.15 billion, a PE ratio of 9.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

1st Source (NASDAQ:SRCEGet Rating) last released its quarterly earnings data on Thursday, April 21st. The financial services provider reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.12. 1st Source had a net margin of 33.48% and a return on equity of 12.31%.

A number of large investors have recently bought and sold shares of SRCE. Point72 Hong Kong Ltd acquired a new position in 1st Source during the 4th quarter worth $25,000. Captrust Financial Advisors grew its stake in 1st Source by 68.0% during the 3rd quarter. Captrust Financial Advisors now owns 566 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 229 shares in the last quarter. Allworth Financial LP grew its stake in 1st Source by 6,644.4% during the 1st quarter. Allworth Financial LP now owns 607 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 598 shares in the last quarter. New York State Teachers Retirement System acquired a new position in 1st Source during the 4th quarter worth $50,000. Finally, Huntington National Bank grew its stake in 1st Source by 3,058.3% during the 4th quarter. Huntington National Bank now owns 1,137 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,101 shares in the last quarter. Institutional investors own 72.87% of the company’s stock.

In related news, Director Daniel B. Fitzpatrick acquired 1,000 shares of 1st Source stock in a transaction that occurred on Monday, February 14th. The shares were purchased at an average price of $48.69 per share, for a total transaction of $48,690.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.05% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Tuesday, May 3rd will be given a $0.31 dividend. The ex-dividend date is Monday, May 2nd. This represents a $1.24 annualized dividend and a dividend yield of 2.68%. 1st Source’s dividend payout ratio (DPR) is presently 26.44%.

About 1st Source (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.

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

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