FY2025 EPS Estimates for 1st Source Boosted by DA Davidson

1st Source Co. (NASDAQ:SRCE) – Research analysts at DA Davidson lifted their FY2025 earnings per share estimates for 1st Source in a research note issued on Monday, October 28th. DA Davidson analyst P. Winter now anticipates that the financial services provider will post earnings per share of $5.59 for the year, up from their previous estimate of $5.51. The consensus estimate for 1st Source’s current full-year earnings is $5.37 per share.

1st Source (NASDAQ:SRCE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. The firm had revenue of $97.93 million for the quarter, compared to analysts’ expectations of $97.30 million. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. During the same quarter last year, the company earned $1.32 EPS.

Several other equities research analysts have also commented on SRCE. Piper Sandler lowered 1st Source from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $60.00 to $67.50 in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 price objective (up from $54.00) on shares of 1st Source in a research note on Monday, July 29th.

1st Source Stock Up 4.8 %

Shares of NASDAQ SRCE opened at $60.23 on Tuesday. 1st Source has a 52-week low of $44.22 and a 52-week high of $65.63. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The company’s 50-day simple moving average is $59.53 and its 200-day simple moving average is $55.74. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 12.12 and a beta of 0.78.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System increased its holdings in shares of 1st Source by 12.2% in the third quarter. New York State Teachers Retirement System now owns 1,675 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 182 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of 1st Source by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,356 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 218 shares during the period. Quest Partners LLC raised its stake in 1st Source by 5.2% during the second quarter. Quest Partners LLC now owns 4,664 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 232 shares during the period. Inspire Investing LLC boosted its holdings in 1st Source by 4.4% in the 3rd quarter. Inspire Investing LLC now owns 6,908 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 293 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of 1st Source by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 28,263 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 438 shares during the period. 74.45% of the stock is owned by hedge funds and other institutional investors.

1st Source Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.39%. 1st Source’s payout ratio is 28.97%.

About 1st Source

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.