Equities Analysts Issue Forecasts for 1st Source Co.’s FY2025 Earnings (NASDAQ:SRCE)

1st Source Co. (NASDAQ:SRCE) – Stock analysts at DA Davidson decreased their FY2025 earnings per share (EPS) estimates for shares of 1st Source in a note issued to investors on Thursday, June 27th. DA Davidson analyst P. Winter now anticipates that the financial services provider will post earnings per share of $4.74 for the year, down from their prior estimate of $4.75. The consensus estimate for 1st Source’s current full-year earnings is $4.84 per share.

1st Source (NASDAQ:SRCE) last issued its earnings results on Thursday, April 25th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. The company had revenue of $138.62 million for the quarter, compared to analysts’ expectations of $93.30 million. 1st Source had a return on equity of 11.99% and a net margin of 23.33%. During the same period last year, the business earned $1.25 EPS.

Separately, Piper Sandler lifted their target price on shares of 1st Source from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th.

1st Source Price Performance

Shares of NASDAQ:SRCE opened at $53.62 on Monday. The company has a market capitalization of $1.31 billion, a P/E ratio of 10.79 and a beta of 0.80. The company’s 50-day moving average is $50.98 and its 200 day moving average is $51.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.92. 1st Source has a fifty-two week low of $40.96 and a fifty-two week high of $56.59.

Institutional Trading of 1st Source

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in 1st Source by 10.2% during the 4th 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 last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of 1st Source during the fourth quarter valued at approximately $27,000. Valeo Financial Advisors LLC increased its position in shares of 1st Source by 7.5% during the first quarter. Valeo Financial Advisors LLC now owns 7,824 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 547 shares in the last quarter. Principal Financial Group Inc. raised its holdings in 1st Source by 11.5% in the 4th quarter. Principal Financial Group Inc. now owns 5,726 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 589 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in 1st Source by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,172 shares of the financial services provider’s stock valued at $796,000 after acquiring an additional 615 shares in the last quarter. Hedge funds and other institutional investors own 74.45% of the company’s stock.

Insider Buying and Selling at 1st Source

In other 1st Source news, Director Daniel B. Fitzpatrick bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $49.65 per share, with a total value of $49,650.00. Following the completion of the purchase, the director now directly owns 48,542 shares of the company’s stock, valued at $2,410,110.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Jeffrey L. Buhr sold 1,925 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $50.84, for a total value of $97,867.00. Following the sale, the executive vice president now directly owns 68,327 shares of the company’s stock, valued at $3,473,744.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel B. Fitzpatrick bought 1,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average price of $49.65 per share, for a total transaction of $49,650.00. Following the acquisition, the director now owns 48,542 shares in the company, valued at approximately $2,410,110.30. The disclosure for this purchase can be found here. 19.30% of the stock is currently owned by corporate insiders.

1st Source Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 2.54%. 1st Source’s dividend payout ratio is currently 27.36%.

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.