1st Source Posts $2.03 Q3 EPS, $95.6M Net Interest Income
SRCE sits 49% above its 52-week low of $58.495.
Summary
1st Source reported Q3 EPS of $2.03 on net income of $49.542 million, with net interest income of $95.585 million, and declared a cash dividend of $0.45. That follows Q2, when net income rose 27% year over year to $47.5 million and EPS came in at $1.95, so the sequential trend is still upward. The quarter's net income rose on loan growth. The stock is trading near its 52-week high of $91.46, so the bar was high going into this print. The release gives only top-line figures — no credit-quality or margin detail yet, which is where a bank this size usually shows stress first.
At the time of this announcement, SRCE was trading at $87.18 on NASDAQ in the Finance sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $58.50 to $91.46. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.