1ST SOURCE Declares Quarterly Dividend Of $0.32 Per Share

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1st Source Intrinsic Value – 1st Source ($NASDAQ:SRCE) Corporation, a financial holding company, has declared a quarterly dividend of $0.32 per share, a 3.2% increase from the prior dividend of $0.31. The dividend is payable on November 10 to shareholders of record on November.

The ex-dividend date is October 31. 1st Source is the presenting sponsor of the 1st Source Bank Performance Pavilion at Silver Beach in St. Joseph, Michigan.

Dividends

This is an increase from the dividends of $1.27 and $1.17 per share that were issued last year. The dividend yield for 1ST SOURCE is 3.02%, which is higher than the average dividend yield of 2.72% for the last year. This makes 1ST SOURCE a good choice for investors looking for dividend stocks.

Share Price

This news caused the stock to open at $50.9 and close at $49.9, down by 2.6% from the prior closing price of 51.2. 1ST SOURCE is a diversified financial services company that operates primarily through its wholly owned subsidiaries. The company has four main business units: banking, wealth management, mortgage banking, and insurance. The announcement of the quarterly dividend was not well received by investors, as evidenced by the stock price reaction.

It is possible that investors were expecting a higher dividend, given the company’s strong financial performance in recent quarters. Despite the stock price decline on Thursday, 1ST SOURCE remains a well-regarded company with a strong financial position. It is possible that the dividend announcement was simply a case of investors’ expectations being too high.

VI Analysis – 1st Source Intrinsic Value Calculator

1ST SOURCE Corporation is a financial holding company. The Company operates through its wholly owned subsidiary, 1st Source Bank . The Bank offers a range of personal and commercial banking products and services.

The Company’s personal banking products and services include checking and savings accounts, certificates of deposit, credit card, mortgage, consumer and commercial loans. The Company’s commercial banking products and services include treasury management, equipment financing, working capital loans, real estate financing, capital market products and international banking services.

VI Peers

The company offers a wide range of products and services including banking, lending, investments, and insurance. 1st Source Corp competes with a number of other financial institutions in the United States, including Salisbury Bancorp Inc, Union Bank Of The Philippines Inc, East West Banking Corp.

– Salisbury Bancorp Inc ($NASDAQ:SAL)

Salisbury Bancorp Inc is a bank holding company based in the United States. The company was founded in 1892 and is headquartered in New York, New York. Salisbury Bancorp Inc operates through its subsidiary, Salisbury Bank and Trust Company. The company provides banking services to individuals and businesses in the United States. Salisbury Bank and Trust Company offers a range of deposit and loan products, as well as online and mobile banking services.

– Union Bank Of The Philippines Inc ($PSE:UBP)

Union Bank of the Philippines Inc has a market cap of 167.08B as of 2022. The company is a universal bank that provides a wide range of banking and other financial services to its retail, corporate, and institutional clients. Its products and services include deposit products, loans, credit cards, foreign exchange, treasury, and trust services. The bank has a network of over 900 branches and 2,600 ATMs nationwide.

– East West Banking Corp ($PSE:EW)

East West Banking Corporation is a Philippines-based bank. The Bank offers a range of personal and corporate banking services, which include deposits, loans, foreign exchange, treasury, credit cards, and other services. East West Banking Corporation has a nationwide network of over 500 branches and 1,800 ATMs.

Summary

1ST SOURCE is a regional bank headquartered in South Bend, Indiana. The Company operates through its Commercial Banking, Retail Banking, and Wealth Management segments. 1ST SOURCE has a diversified portfolio of loans and deposits. The Company offers a range of services, including personal banking, commercial banking, and wealth management.

1ST SOURCE has a strong history of dividend payments and has increased its dividend payout for nine consecutive years. 1ST SOURCE‘s dividend yield is 3.2%. The Company is a good choice for investors looking for a safe and reliable dividend income stream.