1st Source (NASDAQ:SRCE) Issues Earnings Results, Beats Expectations By $0.05 EPS

1st Source (NASDAQ:SRCE) released its quarterly earnings data on Thursday. The financial services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05, Zacks reports. 1st Source had a net margin of 23.23% and a return on equity of 12.02%. The firm had revenue of $97.93 million for the quarter, compared to the consensus estimate of $97.30 million. During the same quarter in the previous year, the firm earned $1.32 earnings per share.

1st Source Trading Down 3.0 %

Shares of NASDAQ:SRCE traded down $1.81 during trading on Friday, reaching $57.68. The stock had a trading volume of 35,064 shares, compared to its average volume of 71,952. The business has a fifty day moving average price of $59.50 and a 200-day moving average price of $55.53. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.41 billion, a P/E ratio of 11.97 and a beta of 0.78. 1st Source has a fifty-two week low of $43.35 and a fifty-two week high of $65.63.

Analyst Ratings Changes

SRCE has been the topic of several recent research reports. Piper Sandler downgraded shares of 1st Source from an “overweight” rating to a “neutral” rating and upped their price target for the company from $60.00 to $67.50 in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price target (up previously from $54.00) on shares of 1st Source in a report on Monday, July 29th.

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.