1st Source (NASDAQ:SRCE – Get Free Report) announced its quarterly earnings results on Thursday. The financial services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.24, Zacks reports. 1st Source had a net margin of 23.33% and a return on equity of 11.99%. The firm had revenue of $144.39 million during the quarter, compared to analysts’ expectations of $95.80 million. During the same quarter in the prior year, the company earned $1.30 EPS.
1st Source Stock Up 4.9 %
NASDAQ:SRCE traded up $3.08 during midday trading on Friday, reaching $65.47. 195,934 shares of the stock traded hands, compared to its average volume of 69,570. 1st Source has a 12-month low of $40.96 and a 12-month high of $65.63. The business has a 50-day moving average of $53.49 and a two-hundred day moving average of $51.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $1.60 billion, a PE ratio of 13.17 and a beta of 0.80.
1st Source Dividend Announcement
The company also recently announced a dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, August 5th. 1st Source’s payout ratio is 27.36%.
Insider Activity at 1st Source
Analysts Set New Price Targets
Separately, Piper Sandler upped their price target on shares of 1st Source from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th.
View Our Latest Research Report on 1st Source
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 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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