Equities analysts forecast that 1st Source Co. (NASDAQ:SRCE) will post sales of $78.90 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for 1st Source’s earnings, with the highest sales estimate coming in at $79.40 million and the lowest estimate coming in at $78.40 million. 1st Source reported sales of $74.49 million during the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The company is scheduled to report its next quarterly earnings results on Thursday, January 17th.

According to Zacks, analysts expect that 1st Source will report full-year sales of $310.35 million for the current year, with estimates ranging from $309.40 million to $311.30 million. For the next year, analysts forecast that the company will post sales of $322.70 million, with estimates ranging from $320.20 million to $325.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover 1st Source.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.13). 1st Source had a return on equity of 10.41% and a net margin of 22.98%. The business had revenue of $78.42 million during the quarter, compared to analysts’ expectations of $78.50 million.

Several research firms recently commented on SRCE. Zacks Investment Research lowered shares of 1st Source from a “hold” rating to a “sell” rating in a research report on Thursday, October 25th. BidaskClub lowered shares of 1st Source from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. Finally, ValuEngine upgraded shares of 1st Source from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. 1st Source presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in 1st Source in the 2nd quarter valued at about $107,000. Engineers Gate Manager LP acquired a new position in 1st Source in the 3rd quarter valued at about $237,000. Assenagon Asset Management S.A. acquired a new position in 1st Source in the 3rd quarter valued at about $408,000. Legal & General Group Plc raised its stake in 1st Source by 47.1% in the 1st quarter. Legal & General Group Plc now owns 9,196 shares of the financial services provider’s stock valued at $466,000 after purchasing an additional 2,945 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in 1st Source by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 9,298 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 1,275 shares during the last quarter. Institutional investors and hedge funds own 70.83% of the company’s stock.

1st Source stock opened at $47.52 on Friday. 1st Source has a 52 week low of $39.93 and a 52 week high of $59.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $1.23 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.48 and a beta of 0.96.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. 1st Source’s dividend payout ratio is presently 40.00%.

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.

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

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