Earnings results for 1st Source (NASDAQ:SRCE)
1st Source Corporation is estimated to report earnings on 10/15/2020. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.69. The reported EPS for the same quarter last year was $0.95.
1st Source last issued its earnings data on July 23rd, 2020. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.15. The company had revenue of $79.24 million for the quarter, compared to the consensus estimate of $77.65 million. 1st Source has generated $3.57 earnings per share over the last year and currently has a price-to-earnings ratio of 10.0. 1st Source has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, October 15th, 2020 based off prior year’s report dates.
Analyst Opinion on 1st Source (NASDAQ:SRCE)
2 Wall Street analysts have issued ratings and price targets for 1st Source in the last 12 months. Their average twelve-month price target is $43.00, predicting that the stock has a possible upside of 35.48%. The high price target for SRCE is $43.00 and the low price target for SRCE is $43.00. There are currently 1 hold rating and 1 buy rating for the stock, resulting in a consensus rating of “Buy.”
1st Source has received a consensus rating of Buy. The company’s average rating score is 2.50, and is based on 1 buy rating, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $43.00, 1st Source has a forecasted upside of 35.5% from its current price of $31.74. 1st Source has only been the subject of 1 research reports in the past 90 days.
Dividend Strength: 1st Source (NASDAQ:SRCE)
1st Source pays a meaningful dividend of 3.46%, higher than the bottom 25% of all stocks that pay dividends. 1st Source has only been increasing its dividend for 1 years. The dividend payout ratio of 1st Source is 31.37%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, 1st Source will have a dividend payout ratio of 48.28% next year. This indicates that 1st Source will be able to sustain or increase its dividend.
Insiders buying/selling: 1st Source (NASDAQ:SRCE)
In the past three months, 1st Source insiders have not sold or bought any company stock. Only 20.22% of the stock of 1st Source is held by insiders. 71.78% of the stock of 1st Source is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of 1st Source (NASDAQ:SRCE
Earnings for 1st Source are expected to decrease by -20.27% in the coming year, from $2.91 to $2.32 per share. The P/E ratio of 1st Source is 10.01, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.74. The P/E ratio of 1st Source is 10.01, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.53. 1st Source has a P/B Ratio of 0.95. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.
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