1st Source Corporation Reports Third Quarter Results, Cash Dividend DeclaredOctober 24, 2024 4:00 PM EDT | Source: 1st Source CorporationQUARTERLY HIGHLIGHTSNet income was $34.94 million for the quarter, up $2.00 million or 6.07% from the third quarter of 2023. Diluted net income per common share was $1.41, up $0.09 or 6.82% from the prior year's third quarter of $1.32.Cash dividend of $0.36 cents per common share for the quarter was approved, up 12.50% from the cash dividend declared a year a ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering 1st Source (SRCE) , which belongs to the Zacks Banks - Midwest industry.When looking at the last two reports, this holding company for 1st Source Bank has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 10.45%, on average, in the last two quarters.For the most recent quarter, 1st Source was expected to post earni ...

P entify Children Children 1 E ugurhan Earnings of 1st Source Corporation (NASDAQ:SRCE) will likely receive support from below-average loan growth through the end of 2025. On the other hand, upcoming interest rate cuts will have an overall slightly negative impact on the net interest margin, which will constrain earnings growth next year. Overall, I'm expecting the company to report earnings of $5.37 per share for 2024, up 7%, and $5.44 per share for 2025, up by just 1% year-over-year. The December 2024 tar ...

Core Viewpoint - 1st Source (SRCE) has received a Zacks Rank 1 (Strong Buy) upgrade, indicating a positive earnings outlook that could lead to increased buying pressure and stock price appreciation [1][3]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for 1st Source is projected at $5.36 per share for the fiscal year ending December 2024, reflecting a year-over-year increase of 6.6% [8]. - Over the past three months, analysts have raised their earnings estimates for 1st Source by 10.8% [8]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of 1st Source to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, indicating strong potential for near-term price movement [10]. Market Dynamics - Changes in earnings estimates are strongly correlated with stock price movements, particularly influenced by institutional investors who adjust their valuations based on these estimates [4]. - Rising earnings estimates and the corresponding rating upgrade suggest an improvement in 1st Source's underlying business, which should be reflected in higher stock prices [5].

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

This quarterly report represents an earnings surprise of 19.20%. A quarter ago, it was expected that this holding company for 1st Source Bank would post earnings of $1.17 per share when it actually produced earnings of $1.19, delivering a surprise of 1.71%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. What's Next for 1st Source? There are no easy answers t ...

ITEM 6. Exhibits. None The following exhibits are filed with this report: 44 SIGNATURES 1st Source Corporation DATE July 25, 2024 /s/ BRETT A. BAUER Brett A. Bauer Treasurer and Chief Financial Officer Principal Accounting Officer Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO ...

Exhibit 99.1 For: Immediate Release Contact: Brett Bauer July 25, 2024 574-235-2000 1st Source Corporation Reports Record Second Quarter Results, Increased Cash Dividend Declared QUARTERLY HIGHLIGHTS South Bend, IN - 1st Source Corporation (NASDAQ: SRCE), parent company of 1st Source Bank, today reported record quarterly net income of $36.79 million for the second quarter of 2024, up $7.34 million or 24.91% from the previous quarter and up 13.44% from the $32.44 million reported in the second quarter a year ...

As such, the Zacks rating upgrade for 1st Source is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. Investors might want to bet on 1st Source (SRCE) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Cons ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-6233 1st Source Corporation (Exact name of registrant as specified in its charter) Indiana 35-1068133 (State or ...