1st Source (NASDAQ:SRCE – Get Free Report) released its quarterly earnings data on Thursday. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.24, Zacks reports. 1st Source had a return on equity of 11.99% and a net margin of 23.33%. The firm had revenue of $144.39 million during the quarter, compared to analyst estimates of $95.80 million. During the same period in the prior year, the company posted $1.30 earnings per share.
1st Source Price Performance
Shares of SRCE stock traded up $3.08 during trading hours on Friday, hitting $65.47. 195,934 shares of the company’s stock were exchanged, compared to its average volume of 69,570. The stock’s 50-day moving average is $53.49 and its 200-day moving average is $51.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 13.17 and a beta of 0.80. 1st Source has a 52 week low of $40.96 and a 52 week high of $65.63.
1st Source Dividend Announcement
The firm also recently announced a dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, August 5th. 1st Source’s payout ratio is presently 27.36%.
Insider Activity at 1st Source
Analyst Upgrades and Downgrades
Separately, Piper Sandler increased their price objective on 1st Source from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th.
Read Our Latest Analysis on SRCE
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.
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