1st Source Corporation (SRCE) To Go Ex-Dividend on May 5th

1st Source Corporation (NASDAQ:SRCE) declared a quarterly dividend on Thursday, April 23rd. Investors of record on Tuesday, May 5th will be given a dividend of 0.43 per share by the financial services provider on Friday, May 15th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, May 5th. This is a 7.5% increase from 1st Source’s previous quarterly dividend of $0.40.

1st Source has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 38 years. 1st Source has a dividend payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect 1st Source to earn $6.89 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 23.2%.

1st Source Price Performance

SRCE stock opened at $73.11 on Friday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 11.21 and a beta of 0.58. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.08. 1st Source has a 12-month low of $56.49 and a 12-month high of $76.44. The company’s fifty day simple moving average is $69.98 and its 200 day simple moving average is $65.74.

1st Source (NASDAQ:SRCE) last released its earnings results on Thursday, April 23rd. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.01). The firm had revenue of $113.14 million during the quarter, compared to analyst estimates of $111.88 million. 1st Source had a net margin of 26.66% and a return on equity of 12.47%. On average, analysts expect that 1st Source will post 6.7 earnings per share for the current year.

Key Stories Impacting 1st Source

Here are the key news stories impacting 1st Source this week:

• Positive Sentiment: Company reported record first-quarter results with revenue beating estimates and year-over-year net income growth; diluted EPS was $1.63 and revenue was $113.14M, slightly above consensus — this underpins fundamentals and supports the recent share-price strength. Article Title
• Positive Sentiment: Board raised the quarterly cash dividend to $0.43 (7.5% increase), with an ex-dividend date of May 5 — a yield around 2.3% and the hike signals management confidence and supports income-oriented demand. Article Title
• Neutral Sentiment: Shareholders approved amendments to three equity compensation plans at the April 23 annual meeting — this helps retention and incentives but may increase long-term share dilution depending on grant usage. Article Title
• Negative Sentiment: Q1 EPS missed consensus by $0.01 ($1.63 vs. $1.64) — a very small miss but enough to trigger short-term selling or analyst caution. Article Title
• Negative Sentiment: Short interest rose materially in mid-April to ~481,911 shares (up ~24% from March 31), representing about 2.5% of shares and a ~3.1 days-to-cover ratio — elevated short activity can add downward pressure and volatility.

1st Source Company Profile

1st Source Corporation is a bank holding company headquartered in South Bend, Indiana, operating through its wholly owned subsidiary, 1st Source Bank. The company offers a full range of commercial and consumer banking products, including checking and savings accounts, business and commercial lending, residential mortgage loans, and cash management services. Its client base spans small and medium-sized businesses, agribusinesses, professional firms, and individual consumers primarily across northern Indiana and southwestern Michigan.

In addition to traditional banking services, 1st Source Corporation provides wealth management and trust services through its 1st Source Wealth Management division.