1st Source (NASDAQ:SRCE) Stock

1st Source

1st Source Corp, along with its subsidiary, offers banking services. The bank provides Commercial, Agricultural, and Real Estate Loans, which are given to privately owned business clients mainly located within the regional market areas, Consumer Services that consist of the full range of consumer banking products and services, Trust and Wealth Advisory Services, and Insurance services to individuals and business clients. Its Specialty Finance Group offers financing services for construction equipment, new and pre-owned private and cargo aircraft, and various vehicle types for fleet purposes.

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Analyst Color

Long Ideas

Upgrades

Price Target

Analyst Ratings

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Trading Ideas

SRCE

Piper Sandler predicts 1st Source Corp to have strong leverage and profitability in 2025. Analyst upgraded stock with increased price target.

1st Source To Achieve Superior Operating Leverage, Profitability In 2025: Analyst

Earnings

Earnings Beats

Large Cap

Macro Economic Events

News

Financing

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Management

Economics

Federal Reserve

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FCCO

The Bank of New York Mellon Corporation (NYSE: BK) is scheduled to report third-quarter 2024 results on Oct. 11, before market open. The company&#39;s revenues and earnings are expected to have increased on a year-over-year basis.

Higher Fee Income to Aid BNY Mellon&#39;s Q3 Earnings, Subdued NIR to Hurt

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CBSH

FMNB

Commerce Bancshares, Inc. (NASDAQ: CBSH) is well-positioned for growth, given the decent loan demand, high interest rates and its balance sheet repositioning strategy. Moreover, solid liquidity and non-interest income growth will further support its financials.

Here&#39;s Why Commerce Bancshares Stock is a Must Buy Now

1st Source Corp

1st Source Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) appears geared up for better-than-average operating leverage and profitability in 2025, according to Piper Sandler. 
The 1st Source Analyst: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5dfa27803513fb0001efaf10/nathan-rich">Analyst Nathan Race</a> upgraded the rating for 1st Source from Neutral to Overweight, while raising the price target from $70.00 to $72.50.
The 1st Source Thesis: The company is likely to generate 10% growth in PPNR (pre-provision net revenue)&nbsp;and 1.6% ROA (return on assets) this year, Race said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"Consistent with mgmt's unchanged MSD growth guidance, we continue to model loans up 5% YoY in 2025/2026," which management aims to fund with core deposits "through the development of additional holistic relationships," the analyst wrote.
Management also indicated that 1st Source would likely &#8220;pull back on loan growth&#8221; if deposit gathering does not keep pace, Race added.
While the stock is currently trading at a discount to peers, it has been historically traded at a premium. Race considers it an attractive entry point.
Price Action: Shares of 1st Source had risen by 4.24% to $59.97 at the time of publication on Monday.
Read More: <a href="https://www.benzinga.com/insights/options/25/01/43110717/this-is-what-whales-are-betting-on-bank-of-new-york-mellon"></a>
<ul>
<li><a href="https://www.benzinga.com/insights/earnings/25/01/43178065/insights-into-glacier-bancorp-q4-earnings">Insights Into Glacier Bancorp Q4 Earnings</a></li>
</ul>
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WIIM

1st Source shares are trading higher after Piper Sandler upgraded the stock from Neutral to Overweight and raised its price target from $70 to $72.5. Also, Keefe, Bruyette & Woods raised its price target from $67 to $69.

Keefe, Bruyette &amp; Woods analyst Damon Delmonte maintains 1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) with a Market Perform and raises the price target from $67 to $69.

Keefe, Bruyette & Woods Maintains Market Perform on 1st Source, Raises Price Target to $69

Piper Sandler analyst Nathan Race upgrades 1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) from Neutral to Overweight and raises the price target from $70 to $72.5.

Piper Sandler Upgrades 1st Source to Overweight, Raises Price Target to $72.5

1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) reported its Q4 earnings results on Thursday, January 23, 2025 at 04:08 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
1st Source missed estimated earnings by -5.0%, reporting an EPS of $1.27 versus an estimate of $1.33.
Revenue was up $6.28 million from the same period last year.
<h3>Historical Earnings Summary</h3>
The company beat on EPS by $0.07 in the previous quarter, leading to a 3.0% drop share price change the next day.
Here's a look at 1st Source's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.34</td>
<td>1.22</td>
<td>1.14</td>
<td>1.15</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.41</td>
<td>1.49</td>
<td>1.19</td>
<td>1.15</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>97.52M</td>
<td>94.84M</td>
<td>92.99M</td>
<td>91.30M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>98.08M</td>
<td>97.42M</td>
<td>94.22M</td>
<td>91.57M</td>
</tr>
</tbody>
</table>

To track all earnings releases for 1st Source <a href="https://www.benzinga.com/quote/SRCE/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

1st Source Earnings Review: Q4 Summary

1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) reported quarterly earnings of $1.27 per share which missed the analyst consensus estimate of $1.33 by 4.51 percent. This is a 10.43 percent increase over earnings of $1.15 per share from the same period last year.

Earnings Misses

1st Source Q4 EPS $1.27 Misses $1.33 Estimate

<h3>Companies Reporting Before The Bell</h3>
• Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) is estimated to report quarterly earnings at $3.86 per share on revenue of $44.72 billion. 
• Chunghwa Telecom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHT#NYSE">CHT</a>) is projected to report earnings for its fourth quarter. 
• WNS (Hldgs) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNS#NYSE">WNS</a>) is likely to report quarterly earnings at $1.04 per share on revenue of $332.22 million. 
• Pacific Premier Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPBI#NASDAQ">PPBI</a>) is likely to report quarterly earnings at $0.31 per share on revenue of $142.92 million. 
• OSI Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSIS#NASDAQ">OSIS</a>) is expected to report quarterly earnings at $2.33 per share on revenue of $406.61 million. 
• Union Pacific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) is expected to report quarterly earnings at $2.78 per share on revenue of $6.15 billion. 
• Texas Capital Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is projected to report quarterly earnings at $1.08 per share on revenue of $283.78 million. 
• Old Republic Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORI#NYSE">ORI</a>) is projected to report quarterly earnings at $0.69 per share on revenue of $2.11 billion. 
• West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTBA#NASDAQ">WTBA</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $21.42 million. 
• Valley Ntl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) is estimated to report quarterly earnings at $0.14 per share on revenue of $467.97 million. 
• MarineMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HZO#NYSE">HZO</a>) is projected to report quarterly loss at $0.18 per share on revenue of $485.52 million. 
• First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $236.55 million. 
• Novagold Resources (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NG#AMEX">NG</a>) is estimated to report earnings for its fourth quarter. 
• Northern Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>) is estimated to report quarterly earnings at $2.00 per share on revenue of $1.93 billion. 
• Dr Reddy's Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) is estimated to report quarterly earnings at $0.19 per share on revenue of $964.48 million. 
• Amalgamated Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAL#NASDAQ">AMAL</a>) is estimated to report quarterly earnings at $0.87 per share on revenue of $81.90 million. 
• MakeMyTrip (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $264.99 million. 
• Heritage Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HFWA#NASDAQ">HFWA</a>) is expected to report quarterly earnings at $0.44 per share on revenue of $60.71 million. 
• Dime Community Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $62.64 million. 
• McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) is expected to report quarterly earnings at $0.77 per share on revenue of $1.77 billion. 
• American Airlines Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) is projected to report quarterly earnings at $0.39 per share on revenue of $13.13 billion. 
• TAL Education (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) is expected to report quarterly earnings at $0.06 per share on revenue of $539.86 million. 
• Global X Guru Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GURU#NYSE">GURU</a>) is projected to report quarterly loss at $0.09 per share on revenue of $7.55 million. 
• LSI Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYTS#NASDAQ">LYTS</a>) is estimated to report quarterly earnings at $0.20 per share on revenue of $129.20 million. 
• GATX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATX#NYSE">GATX</a>) is likely to report quarterly earnings at $1.78 per share on revenue of $399.00 million. 
• Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) is estimated to report quarterly earnings at $0.76 per share on revenue of $48.94 million. 
• Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) is projected to report quarterly earnings at $0.35 per share on revenue of $6.27 billion. 
• Banc of California (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BANC#NYSE">BANC</a>) is expected to report quarterly earnings at $0.23 per share on revenue of $272.18 million. 
• GE Aero (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) is likely to report quarterly earnings at $1.05 per share on revenue of $9.84 billion. 
• Atlantic Union Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AUB#NYSE">AUB</a>) is estimated to report quarterly earnings at $0.79 per share on revenue of $222.26 million. 
<h3>Companies Reporting After The Bell</h3>
• Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) is projected to report quarterly earnings at $1.20 per share on revenue of $3.87 billion. 
• Covenant Logistics Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVLG#NYSE">CVLG</a>) is expected to report quarterly earnings at $0.50 per share on revenue of $284.91 million. 
• OceanFirst Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NASDAQ">OCFC</a>) is projected to report quarterly earnings at $0.36 per share on revenue of $94.95 million. 
• First Western Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYFW#NASDAQ">MYFW</a>) is expected to report quarterly earnings at $0.26 per share on revenue of $24.41 million. 
• SouthState (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>) is expected to report quarterly earnings at $1.73 per share on revenue of $434.57 million. 
• Five Point Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPH#NYSE">FPH</a>) is likely to report earnings for its fourth quarter. 
• USCB Financial Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USCB#NASDAQ">USCB</a>) is expected to report quarterly earnings at $0.37 per share on revenue of $22.41 million. 
• First Financial Bancor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFBC#NASDAQ">FFBC</a>) is projected to report quarterly earnings at $0.65 per share on revenue of $216.32 million. 
• First Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBA#NASDAQ">FRBA</a>) is estimated to report quarterly earnings at $0.39 per share on revenue of $32.84 million. 
• SLM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NASDAQ">SLM</a>) is expected to report quarterly earnings at $0.56 per share on revenue of $371.74 million. 
• MidWestOne Financial Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOFG#NASDAQ">MOFG</a>) is estimated to report quarterly earnings at $0.72 per share on revenue of $57.00 million. 
• Midland States Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSBI#NASDAQ">MSBI</a>) is likely to report quarterly earnings at $0.67 per share on revenue of $73.57 million. 
• Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) is estimated to report quarterly earnings at $1.49 per share on revenue of $67.43 million. 
• Customers Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>) is estimated to report quarterly earnings at $1.20 per share on revenue of $164.07 million. 
• East West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) is expected to report quarterly earnings at $2.12 per share on revenue of $659.00 million. 
• Intuitive Surgical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) is estimated to report quarterly earnings at $1.75 per share on revenue of $2.20 billion. 
• Glacier Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $224.99 million. 
• Business First Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFST#NASDAQ">BFST</a>) is likely to report quarterly earnings at $0.49 per share on revenue of $75.13 million. 
• SB Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFG#NASDAQ">SBFG</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $10.20 million. 
• Byline Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BY#NYSE">BY</a>) is projected to report quarterly earnings at $0.61 per share on revenue of $100.39 million. 
• Eastern Bankshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBC#NASDAQ">EBC</a>) is projected to report quarterly earnings at $0.34 per share on revenue of $184.71 million. 
• 1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) is likely to report quarterly earnings at $1.33 per share on revenue of $97.65 million. 
• Associated Banc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $337.81 million. 
• Columbia Banking System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) is projected to report quarterly earnings at $0.66 per share on revenue of $489.74 million. 
• CSX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>) is likely to report quarterly earnings at $0.44 per share on revenue of $3.61 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For January 23, 2025

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Shares of banking-related companies are trading higher after Donald Trump won the US presidential election.

1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) reported quarterly earnings of $1.41 per share which beat the analyst consensus estimate of $1.34 by 5.22 percent. The company reported quarterly sales of $98.078 million which beat the analyst consensus estimate of $97.524 million by 0.57 percent. This is a 4.49 percent increase over sales of $93.861 million the same period last year.

1st Source Q3 2024 GAAP EPS $1.41 Beats $1.34 Estimate, Sales $98.078M Beat $97.524M Estimate

1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) is preparing to release its quarterly earnings on Thursday, 2024-10-24. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect 1st Source to report an earnings per share (EPS) of $1.34.
Anticipation surrounds 1st Source's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Past Earnings Performance</h3>
In the previous earnings release, the company beat EPS by $0.27, leading to a 4.94% increase in the share price the following trading session.
Here's a look at 1st Source's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.22</td>
<td>1.14</td>
<td>1.15</td>
<td>1.10</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.49</td>
<td>1.19</td>
<td>1.15</td>
<td>1.32</td>
</tr>
<tr>
<td>Price Change %</td>
<td>5.0%</td>
<td>-4.0%</td>
<td>5.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729713766_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of 1st Source were trading at $59.89 as of October 22. Over the last 52-week period, shares are up 32.75%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/SRCE/earnings">To track all earnings releases for 1st Source visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What's Next: 1st Source's Earnings Preview

The Bank of New York Mellon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) is scheduled to report third-quarter 2024 results on Oct. 11, before market open. The company&#39;s revenues and earnings are expected to have increased on a year-over-year basis.
In the last reported quarter, BK&#39;s earnings surpassed the Zacks Consensus Estimate. Results were primarily aided by a rise in fee revenues and lower expenses. The assets under custody and/or administration (AUC/A) and assets under management balances grew on a solid market rally. However, a decline in net interest revenues (NIR) acted as a headwind.
BNY Mellon has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average beat of 9.92%.
<div class="chart_embed">
<h3>The Bank of New York Mellon Corporation Price and EPS Surprise</h3>
<img alt="The Bank of New York Mellon Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/17/1728394604.png" style="height:258px; width:527px" title="" />
The Bank of New York Mellon Corporation price-eps-surprise | The Bank of New York Mellon Corporation Quote
The consensus estimate for the company&#39;s third-quarter earnings is pegged at $1.40 per share, which has been revised marginally upward over the past seven days. This indicates a rise of 10.2% from the year-ago quarter&#39;s reported number.
The consensus estimate for sales is pegged at $4.52 billion, implying 3.3% growth.
</div>
<h2>Key Factors to Impact BK&#39;s Q3 Results</h2>
Fee Revenues: The Zacks Consensus Estimate for total investment services fees (comprising more than 50% of the company&#39;s total revenues) is pegged at $2.34 billion, suggesting a rise of 5% from the year-ago quarter. Our estimate for the same is $2.39 billion.
The consensus mark for financing-related fees stands at $52.5 million, which suggests a 16.6% year-over-year rise. Our estimate for financing-related fees is $55.9 million.
The consensus estimate for distribution and servicing fees is pegged at $41.7 million, implying a 6.8% increase. Our estimate for the same is pegged at $42.7 million.
In the third quarter, foreign exchange (FX) trading activity was driven by heightened market volatility and increased hedging demand amid global economic uncertainties. Nonetheless, the implementation of the rate cut weakened the dollar to some extent. Thus, increased FX trading volumes are likely to have had a modest impact on BNY Mellon&#39;s FX revenues. The consensus estimate for foreign exchange revenues is pegged at $179.6 million, suggesting a rise of 16.6%. Our estimate for the same is $165.5 million.
The consensus estimate for total fees and other revenues is $3.55 billion, suggesting a rise of 5.6%. We project the metric to be $3.59 billion.
Net Interest Revenues: On Sept. 18, the Federal Reserve implemented a 50-basis point rate cut for the first time since March 2020. Nonetheless, the impact on BK&#39;s NIR during the third quarter is unlikely to have been significant.
Further, the inverted yield curve for most of the quarter and high funding costs are expected to have weighed on interest income.
Yet, indications of future rate cuts by the Fed and a stabilizing macroeconomic backdrop are likely to have supported the overall lending scenario. Per the latest Fed data, overall loan demand remained decent for the first two months of the quarter.
The consensus mark for NIR is pegged at $967.8 million, indicating a 4.8% year-over-year decline. Our estimate for NIR is $898.3 million.
Expenses: Because of higher restructuring charges, BNY Mellon&#39;s expenses have been elevated over the past few years. Nevertheless, overall costs are expected to have been manageable in the quarter under review, given the elimination of unnecessary management layers.
Our estimate for non-interest expenses is $3.12 billion, suggesting a marginal year-over-year fall.
<h2>What the Zacks Model Unveils for BNY Mellon</h2>
According to our quantitative model, the chances of BNY Mellon beating the Zacks Consensus Estimate this time are high. This is because it has the right combination of the two key ingredients &mdash; a positive Earnings ESP and Zacks Rank #3 (Hold) or better.
Earnings ESP: The Earnings ESP for BNY Mellon is +0.14%.
Zacks Rank: The company currently carries a Zacks Rank #2 (Buy).
<h2>Other Bank Stocks That Warrant a Look</h2>
A couple of other bank stocks that have the right combination of elements to post an earnings beat in their upcoming releases are First Community Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>) and 1st Source Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srce#NASDAQ">SRCE</a>).
FCCO has an Earnings ESP of +1.12% and it carries a Zacks Rank of 2 at present. The company is slated to report third-quarter 2024 results on Oct. 16.
SRCE is scheduled to release third-quarter 2024 earnings on Oct. 24. The company, which sports a Zacks Rank of 1 (Strong Buy) at present, has an Earnings ESP of +4.80%.
<a href="https://www.zacks.com/stock/news/2347766/higher-fee-income-to-aid-bny-mellon-s-q3-earnings-subdued-nir-to-hurt?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2347766">To read this article on Zacks.com click here.</a>

Higher Fee Income to Aid BNY Mellon's Q3 Earnings, Subdued NIR to Hurt

Commerce Bancshares, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>) is well-positioned for growth, given the decent loan demand, high interest rates and its balance sheet repositioning strategy. Moreover, solid liquidity and non-interest income growth will further support its financials.
Over the past week, the Zacks Consensus Estimate for both 2024 and 2025 earnings has moved marginally upward to $3.94 and $3.89, respectively. CBSH currently sports a Zacks Rank #1 (Strong Buy).
Year to date, shares of Commerce Bancshares have gained 16.2%, outperforming the industry&#39;s growth of 9.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/99/75089.jpg?v=1314157690" /> 
Image Source: Zacks Investment Research
<h2>What Makes the Stock Worth Betting on</h2>
Earnings Growth: Commerce Bancshares witnessed earnings growth of 8.9% over the past three to five years. This was driven by the company&#39;s organic growth strategy, solid customer relationships and strong risk management.
Our projections for earnings indicate a 4.8%, 1% and 6% rise in 2024, 2025 and 2026, respectively.
Revenue Strength: Driven by growth in loan demand and fee income, Commerce Bancshares&#39; total revenues witnessed a compound annual growth rate (CAGR) of 3.5% over the last five years (2018-2023). The trend continued in the first half of 2024 as well. Organic growth measures and a high-interest-rate scenario are likely to support top-line expansion, though rising funding costs will weigh on it to some extent.
Further, its balance sheet repositioning strategy is likely to boost net interest income through the sale of debt securities and reinvesting the proceeds at higher yields.
Our estimates for total revenues indicate 3.6%, 1.4% and 1.9% growth in 2024, 2025 and 2026, respectively.
Strong Balance Sheet: As of Jun 30, 2024, CBSH&#39;s total cash and cash equivalents (consisting of cash and due from banks and interest-earning deposits with banks) were $2.5 billion. Total debt (comprising other liabilities and other borrowings) was $580.4 million. Also, the company maintains investment grade ratings of A- and a stable outlook from Standard &amp; Poor&#39;s. Hence, a solid liquidity position allows the company to address its near-term obligations.
Impressive Capital Distributions: Commerce Bancshares&#39; capital distribution activities are encouraging. The company has been paying a 5% stock dividend over the past 25 years, with the most recent one announced in December 2023. The company has been consistently paying quarterly cash dividends and has a share repurchase plan in place. As of Jun 30, 2024, roughly 4.3 million shares remained available under the authorization.
Given its decent earnings strength and strong liquidity position, the company is expected to continue efficient capital distributions, thus enhancing shareholder value.
Superior Return on Equity (ROE): CBSH&#39;s trailing 12-month ROE reflects its superiority in terms of utilizing shareholders&#39; funds. The company&#39;s ROE of 16.5% compares favorably with 10.9% of the industry.
<h3>Other Bank Stocks to Consider</h3>
Some other top-ranked stocks from the banking space worth a look are 1st Source Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srce#NASDAQ">SRCE</a>) and Farmers National Banc Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fmnb#NASDAQ">FMNB</a>), each sporting a Zacks Rank #1 at present.
The Zacks Consensus Estimate for SRCE&#39;s current-year earnings has moved 10.7% north over the past 30 days. Shares of the company have gained 17.1% in the past six months.
The Zacks Consensus Estimate for FMNB&#39;s 2024 earnings has moved 3.8% upward in the past month. Over the past six months, shares of the company have risen 7.5%.
<a href="https://www.zacks.com/stock/news/2325925/here-s-why-commerce-bancshares-cbsh-stock-is-a-must-buy-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2325925">To read this article on Zacks.com click here.</a>

Here's Why Commerce Bancshares Stock is a Must Buy Now

Old National Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onb#NASDAQ">ONB</a>) is well-positioned on strong loan growth, high interest rates and strategic initiatives. Moreover, solid liquidity and efforts to improve fee income are likely to support its financials.
Over the past 30 days, the Zacks Consensus Estimate for 2024 and 2025 earnings has remained unchanged. ONB currently carries a Zacks Rank #2 (Buy).
Over the past year, shares of Old National have gained 7.3%.
<div class="chart_embed">
<h3>Old National Bancorp Price</h3>
<img alt="Old National Bancorp Price" src="https://staticx-tuner.zacks.com/images/charts/7f/1723122927.png" style="height:254px; width:536px" title="" />
Old National Bancorp price | Old National Bancorp Quote
Let&#39;s dig deeper into the factors that make ONB stock worth buying now.
Earnings Growth: Old National witnessed earnings growth of 9.8% over the past three to five years, outperforming the industry average of 8.5%. This was largely driven by the company&#39;s organic growth strategy, solid balance sheet and opportunistic expansions.
Also, the company has a decent earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and lagged in one, with the average beat being 2.28%.
While the Zacks Consensus Estimate for earnings indicates a 9.8% decline on a year-over-year basis in 2024, earnings are projected to rebound and grow at the rate of 7.6% in 2025.
Revenue Strength: Driven by diverse revenue streams, solid loan growth and inorganic expansionary measures, Old National&#39;s total revenues witnessed a compound annual growth rate (CAGR) of 20.2% over the last five years (2018-2023). Though the trend reversed in the first half of 2024 due to higher deposit costs and lower capital markets income, a high interest rate regime, improving fee income and strategic acquisitions are likely to support top-line expansion, while rising funding costs will weigh on it to some extent.
The Zacks Consensus Estimate for revenues indicates 1.8% and 5.8% growth on a year-over-year basis in 2024 and 2025, respectively.
Strategic Business Restructuring: Old National has been engaged in opportunistic acquisitions and divestitures to expand its footprint and gain market share while boosting operational efficiency. Notably, the company has acquired more than 50 financial institutions since its inception in 1982.
This April, the company completed its merger with CapStar Financial Holdings, Inc. In 2022, the company completed its merger of equals with First Midwest. In the same year, ONB completed the sale of a part of its business that served as a custodian and administrator for health savings accounts.&nbsp; These strategic initiatives have deepened the company&#39;s presence within the United States and helped expand fee income sources while optimizing the business structure.
Strong Balance Sheet: As of Jun 30, 2024, ONB&#39;s total cash and cash equivalents (consisting of cash and due from banks and money market and other interest-earning investments) were $1.2 billion. Other borrowings were $849.8 million as of the same date. Hence, a solid liquidity position allows the company to address its near-term obligations.
Impressive Capital Distributions: Old National&#39;s dividend payouts are encouraging. The company has been paying dividends regularly, with the most recent one announced in May 2024. Moreover, the company has hiked its dividend once during the last five years. Further, the company has a share repurchase program in place. The plan was authorized this February, enabling the company to buy back up to $200 million worth of shares, with an expiration date of Feb 28, 2025.&nbsp; As of Jun 30, 2024, the entire authorization remained available.
Given its decent earnings strength and strong liquidity position, the company is expected to continue its capital distribution activities, thus enhancing shareholder value.
Stock Seems Undervalued: ONB&#39;s price-to-book and price-to-earnings (F1) ratios of 0.97 and 7.68 are well below the industry average of 1.07 and 10.72, respectively. Thus, the stock seems to be available at a better valuation than its peers.
</div>
<h3>Other Banking Stocks to Consider</h3>
Some other top-ranked stocks from the banking space worth a look are 1st Source Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srce#NASDAQ">SRCE</a>) and Commerce Bancshares, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for SRCE&#39;s current-year earnings has moved 5.9% north over the past week. Shares of the company have gained 15.9% in the past six months.
The Zacks Consensus Estimate for CBSH&#39;s 2024 earnings has moved 8.3% upward in the past month. Over the past six months, shares of the company have gained 19.8%.
<a href="https://www.zacks.com/stock/news/2319339/here-s-why-old-national-onb-stock-is-worth-buying-right-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2319339">To read this article on Zacks.com click here.</a>

Here's Why Old National Stock is Worth Buying Right Now

Keefe, Bruyette &amp; Woods analyst Damon Delmonte reiterates 1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) with a Market Perform and raises the price target from $54 to $62.

Reiteration

Keefe, Bruyette & Woods Reiterates Market Perform on 1st Source, Raises Price Target to $62

Piper Sandler analyst Nathan Race downgrades 1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) from Overweight to Neutral and raises the price target from $60 to $67.5.

Downgrades

Piper Sandler Downgrades 1st Source to Neutral, Raises Price Target to $67.5

1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) reported quarterly earnings of $1.49 per share which beat the analyst consensus estimate of $1.22 by 22.13 percent. This is a 14.62 percent increase over earnings of $1.30 per share from the same period last year. The company reported quarterly sales of $97.415 million which beat the analyst consensus estimate of $94.845 million by 2.71 percent. This is a 6.51 percent increase over sales of $91.464 million the same period last year.

1st Source Q2 2024 GAAP EPS $1.49 Beats $1.22 Estimate, Sales $97.415M Beat $94.845M Estimate

Keefe, Bruyette &amp; Woods analyst Damon Delmonte maintains 1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) with a Market Perform and raises the price target from $52 to $53.

Keefe, Bruyette & Woods Maintains Market Perform on 1st Source, Raises Price Target to $53-Report Released on 19 January 2024

1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) reported quarterly earnings of $1.15 per share which met the analyst consensus estimate. This is a 8 percent decrease over earnings of $1.25 per share from the same period last year. The company reported quarterly sales of $91.57 million which beat the analyst consensus estimate of $91.30 million by 0.30 percent. This is a 3.34 percent decrease over sales of $94.73 million the same period last year.

1st Source Q4 EPS $1.15, Inline, Sales $91.57M Beat $91.30M Estimate

1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) reported its Q4 earnings results on Thursday, January 18, 2024 at 04:10 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
1st Source reported in-line EPS of $1.15 versus an estimate of $1.15.
Revenue was down $3.16 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.22 which was followed by a 2.6% increase in the share price the next day.
Here's a look at 1st Source's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.10</td>
<td>1.1</td>
<td>1.25</td>
<td>1.28</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.32</td>
<td>1.3</td>
<td>1.25</td>
<td>1.25</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>89.73M</td>
<td>91.55M</td>
<td>92.96M</td>
<td>94.20M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>93.86M</td>
<td>91.46M</td>
<td>93.11M</td>
<td>94.73M</td>
</tr>
</tbody>
</table>

To track all earnings releases for 1st Source <a href="https://www.benzinga.com/quote/SRCE/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

1st Source: Q4 Earnings Insights

<h3>Companies Reporting Before The Bell</h3>
&bull; Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is estimated to report quarterly earnings at $1.37 per share on revenue of $19.45 billion.
&bull; M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) is expected to report quarterly earnings at $3.67 per share on revenue of $2.27 billion.
&bull; Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) is expected to report quarterly earnings at $0.85 per share on revenue of $386.34 million.
&bull; WNS (Hldgs) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNS#NYSE">WNS</a>) is expected to report quarterly earnings at $0.99 per share on revenue of $313.54 million.
&bull; Birkenstock Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIRK#NYSE">BIRK</a>) is projected to report quarterly earnings at $0.08 per share on revenue of $303.31 million.
&bull; Northern Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>) is estimated to report quarterly earnings at $1.21 per share on revenue of $1.70 billion.
&bull; KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>) is estimated to report quarterly earnings at $0.23 per share on revenue of $1.53 billion.
&bull; Texas Capital Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is likely to report quarterly earnings at $0.75 per share on revenue of $252.75 million.
&bull; First Horizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>) is estimated to report quarterly earnings at $0.30 per share on revenue of $787.96 million.
&bull; Sify Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIFY#NASDAQ">SIFY</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $139.50 million.
&bull; Home BancShares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOMB#NYSE">HOMB</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $243.07 million.
&bull; Truist Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) is estimated to report quarterly earnings at $0.89 per share on revenue of $5.69 billion.
&bull; Fastenal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) is projected to report quarterly earnings at $0.45 per share on revenue of $1.75 billion.
&bull; Insteel Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IIIN#NYSE">IIIN</a>) is estimated to report quarterly earnings at $0.05 per share on revenue of $129.68 million.
<h3>Companies Reporting After The Bell</h3>
&bull; F N B (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNB#NYSE">FNB</a>) is likely to report quarterly earnings at $0.35 per share on revenue of $403.83 million.
&bull; OceanFirst Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NASDAQ">OCFC</a>) is projected to report quarterly earnings at $0.43 per share on revenue of $90.36 million.
&bull; Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) is estimated to report quarterly earnings at $1.48 per share on revenue of $61.68 million.
&bull; Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) is likely to report quarterly earnings at $1.24 per share on revenue of $177.34 million.
&bull; JB Hunt Transport Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) is estimated to report quarterly earnings at $1.75 per share on revenue of $3.27 billion.
&bull; PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) is estimated to report quarterly earnings at $1.50 per share on revenue of $4.27 billion.
&bull; Bank OZK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OZK#NASDAQ">OZK</a>) is projected to report quarterly earnings at $1.48 per share on revenue of $396.40 million.
&bull; Five Point Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPH#NYSE">FPH</a>) is estimated to report earnings for its fourth quarter.
&bull; 1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) is likely to report quarterly earnings at $1.15 per share on revenue of $91.30 million.
&bull; Banner (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BANR#NASDAQ">BANR</a>) is estimated to report quarterly earnings at $1.30 per share on revenue of $140.45 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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