1st Source Corporation to Issue Quarterly Dividend of $0.40 (NASDAQ:SRCE)

1st Source Corporation (NASDAQ:SRCE) declared a quarterly dividend on Thursday, January 22nd. Shareholders of record on Tuesday, February 3rd will be given a dividend of 0.40 per share by the financial services provider on Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 3rd.

1st Source has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 38 consecutive years. 1st Source has a payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect 1st Source to earn $6.00 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 26.7%.

1st Source Stock Up 0.2%

SRCE stock opened at $67.52 on Friday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 11.23 and a beta of 0.65. The company has a 50-day moving average of $63.87 and a two-hundred day moving average of $62.50. 1st Source has a 52-week low of $52.14 and a 52-week high of $68.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.96 and a quick ratio of 0.96.

1st Source (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.12. 1st Source had a return on equity of 12.25% and a net margin of 24.97%.The business had revenue of $110.26 million for the quarter, compared to analyst estimates of $109.46 million. As a group, equities research analysts anticipate that 1st Source will post 5.82 EPS for the current year.

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.