1st Source (SRCE) Q1 Earnings and Revenues Top Estimates

Group 1 - 1st Source reported quarterly earnings of $1.52 per share, exceeding the Zacks Consensus Estimate of $1.36 per share, and up from $1.19 per share a year ago, representing an earnings surprise of 11.76% [1] - The company posted revenues of $104.04 million for the quarter, surpassing the Zacks Consensus Estimate by 1.70%, and an increase from $94.07 million year-over-year [2] - 1st Source has consistently surpassed consensus EPS estimates over the last four quarters [2] Group 2 - The stock has lost approximately 2.5% since the beginning of the year, while the S&P 500 has declined by 8.6% [3] - The current consensus EPS estimate for the upcoming quarter is $1.50 on revenues of $105.5 million, and for the current fiscal year, it is $5.82 on revenues of $418.3 million [7] - The Zacks Industry Rank for Banks - Midwest is in the top 10% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] Group 3 - The estimate revisions trend for 1st Source is currently mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5] - Another company in the same industry, Enterprise Financial Services, is expected to report quarterly earnings of $1.17 per share, reflecting a year-over-year change of +9.4% [9]